The process might not be an overnight one, but the steps to buying a

business can be simplified into the following:

​

1. Pre-Qualify – Meet with a lender to understand your financing options and get a pre-approval letter.

2. Explore the Market – Research industries, browse listings, and set alerts for new opportunities.

3. Engage– When you find a business of interest, we'll work together to find as business suited for you. sign the NDA and share your background/financials to gain access to details.

4. Get To Know Each Other. –  Examine the Confidential Information Memorandum (CIM) and see if the opportunity is what you are looking for.

5. Meet the Seller – Schedule a meeting with the broker and business owner to ask questions and make sure it is the right fit.

6. Submit an Offer (LOI) – Present your Letter of Intent outlining proposed price and terms.

7. Perform Due Diligence – Work with your accountant and attorney to verify all financial and operational details. This is where you make sure everything is up to snuff.

8. Finalize and Close the Deal – Negotiate the Purchase Agreement, complete financing, and close the transaction.

9. Transition - For some sales the transition is as simple as cutting a check, a few emails here and there, and you're done. Other times it's a longer transition phase in order to keep things operating at the previous level.