So you’ve decided to buy a business
Congratulations! You’ve made the decision to be your own boss. You’ve done your research, and know that buying a business makes a lot of sense. You will have access to immediate cash flow, trained employees, and a tested and successful business model. So what comes next?
- Identify areas of interest – Do you know what type of business you are looking for? Have you thought about whether you want to work out of your home or do you prefer to be in a retail setting? Do you want to be an absentee owner or be hands on? Evaluate what your skills and interests are and the amount of time you can dedicate to running a business. This will help your selection process run more smoothly!
- View listings – Start by looking through our current listings. At Vantage Business Brokers, we always have a wide range of businesses available. Each listing will give you an idea of the industry, location, competition and opportunities for growth. Look at the asking price and financial information on the business. All of this information will help determine what is right one for you.
- Contact us – Whether you have found a business the piques your interest or not, contact us. If you have a particular listing in mind, let us know what attracted you to that particular opportunity. If you didn’t find exactly what you are looking for, let us know that too. We often know of business owners that are interested in selling, but haven’t quite taken the first step, or can contact you when the right business comes across our desk.
- Non-Disclosure Agreement – We will start our discussions with you by asking that you complete an NDA. This document helps us to protect the identity of the business. The document delivery, signature, and return is all completed online and the process is very simple.
- Evaluate – We will pull together a summary of the listing, the basic financials and help answer any questions that you may have. This is also a great time for you to pull together financial records, and look at options for Small Business financing. We have relationships with several local banks, and can help with this process if needed. We will schedule a time for you to meet with the current owners, tour the facilities, and discuss training plans. We want to help set you up for a successful future!
- Close – We will help schedule a time that works for all parties, prepare any documentation needed, and get the right people in the room for the closing. We can refer you to accountants and lawyers who specialize in Small Business transactions if you don’t currently have them. We’ll see the process through, including the transition, communicating with your new employees and clients.