Embarking on the journey to buy a business is both thrilling and a bit daunting. You’re not just purchasing a product; you’re investing in a living, breathing entity with its own history, challenges, and potential. But where do you start? And how do you navigate the twists and turns along the way? We’ll walk you through each step of our buyer process.

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Buying Process:

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1. Find One

Step one: find a business that catches your eye. Our opportunties come with a "blind profile" for confidentiality, so what you see is just the tip of the iceberg.

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2. Submit NDA

Now that you're intrigued, it’s time to get serious. Use the form located on the bottom of the listing summary page to submit your details and sign a digital NDA. This unlocks a full Buyer Presentation—around 15-30 pages packed with everything you need to know about the business.
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3. Review Presentation

Dive deep into the Buyer Presentation (Confidential Information Memorandum). Once you've digested all that info, jot down any burning questions or concerns you want to clarify.

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4. Buyer/Seller Meeting

If the business still feels like "the one," we’ll arrange a meeting with the seller. This is your chance to clear up any remaining doubts and ask those important questions.

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5. Prepare Offer

Ready to take the plunge? Work with your Intermediary to draft an offer (LOI - Letter of Intent). Let’s get those negotiations rolling.

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6. Negotiation

Time to hammer out the final details. Don’t sweat it—we’ll be right there with you, making sure everything goes smoothly.

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7. Due Diligence

Now it’s time to get down to the nitty-gritty: reviewing documents, securing financing, and sorting out lease assignments with your trusty Intermediary.

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8. Condition Removal

Almost there! Check off all the conditions and wrap up the Definitive Agreement.

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9. Closing

It’s the final countdown. Work closely with your Intermediary and legal counsel to seal the deal—and maybe start planning that celebration.

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Bank Requirements for a Business Loan:

When it comes to buying a business, financing often plays a key role. To get the green light from a lender, you'll need to have certain documents ready. The good news? Your intermediary likely has many of these already checked off the list. As part of our onboarding process, we collect all the necessary paperwork. Rest assured, your intermediary will work closely with you and your financial institution to ensure everything is in order for a smooth financing process.

• Corporate ownership chart (showing corporation and percentages of ownership by beneficial owners, trusts, etc.)
• Statement of Personal Affairs Form for any owner with > 25%
• Copy of Government issued ID for any shareholder > 25%
• Application for Financing Form
• Bank statement or investment statement for confirmation of downpayment
• 2-year financial projections/forecast
• In-house comparative financial statement YTD
• Accounts Receivable list
• Accounts Payable list
• Inventory list
• Equipment list
• Lease agreement
• 3 years of accountant-prepared YEFS (depending on loan size and institution, they may require Compiled Statements, Review Engagement, or Audited)
• Copies of contracts or PO’s
• For real estate: appraisal by bank-approved appraiser, depending on FI, an environmental report by a bank-approved firm (phase I or II) may be required
• Business plan may be required
• Site visit may be required
• Twelve-month trailing (TTM), 24 months may be required

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Conclusion:

If you’re considering buying a business, take a moment to explore a few options and see what sparks your interest. The advantages of acquiring an established, operational business are enormous—think immediate cash flow and tried-and-true systems that pave the way for ongoing success. If you’d like to stay in the loop with exclusive updates on new opportunities, be sure to sign up here.

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