Are you looking to buy a business?
When you are looking to take that step and become a business owner, there are few steps that you should follow to help you make the right choice!
Consider the following steps to help you navigate through the process of buying a business
- Take Charge - Congratulations! You have made the choice to change your future by purchasing a business. Owning a business is one of the best ways to create financial freedom and build wealth. Start your process off on the right foot by contacting Crossroads Business Consultants to help you through the process.
- Evaluation - We will assist you in searching for the right business by gathering detailed information about you to establish your financial capabilities, your skills and experiences, and your personal life goals. This information helps us gain your commitment to the process to determine the best types of business to pursue. Once completed, we can start our search for you.
- Education - It is important to understand all that it takes to buy and own a business. We will assist you in getting you fully educated and make sure you understand the opportunity and the realities of the marketplace.
- Search - We will aid you in finding the perfect business for you. We will help you search for companies, help you through the process to understand the listings, gathering information for evaluation and help you connect with the sellers.
- Making an Offer on the Business - We will assist you to put together an offer on the business based on the information gathered through the due diligence. We will assist you in drafting an offer letter. Through a process a purchase and sale agreement will be drafted, typically a deposit will be put into escrow to show that you are serious about the purchase.
- Due Diligence - After a contingent offer is accepted and a deposit is in escrow you will be given the time to continue your due diligence on the company to continue to verify that the information regarding the financials of the company are accurate. We will help coordinate these processes between you, your financial advisors and the seller.
- Closing - Upon completion of your due diligence, we will prepare for a closing on the business, this will include such things are any transfers of lease agreements, utility transfers, financing, inventory counts and any other necessary transfers to make the transfer of the business a smooth one. Closing will typically take place at the office of an attorney where the final documents will be signed and the balance of the purchase price will be paid.
- Post Closing - All Post closing actions will be discussed through the transaction process, these may include post closing training and support from the seller and any updates or upgrades discussed and negotiated through the sales process. Crossroads Business Consultants will be available to assist you with any questions and help guide you through the post closing step.