Before looking at listings, determine what you are actually looking for. Buying a business is a lifestyle choice as much as a financial one.
If the numbers look good, you submit an LOI. This is a non-binding offer that outlines the price and terms. Once signed, the seller "takes the business off the market" for a set period (usually 30–90 days). 4. Due Diligence: Trust but Verify how do you buy a business
The seller "loans" you part of the purchase price (usually 10–20%), which you pay back with interest over time. This keeps the seller "in the game" to ensure a smooth transition. Before looking at listings, determine what you are
This involves cold-emailing or calling business owners who haven't listed their company yet. It’s harder work, but you often get a better price without a bidding war. 3. Preliminary Analysis & The LOI This is a non-binding offer that outlines the
Match their bank statements to their tax returns.