Buying a business is an attractive proposition compared to building a firm from scratch. There is much less risk, especially if staff, equipment, suppliers and customers are all in place, giving you the opportunity to enjoy the benefits and rewards of business ownership from day one.
Once you think you want to buy a business, the next step is to decide the terms upon which you want to buy the business and prepare either a letter of intent or a purchase offer. In many cases, the seller’s broker will handle both sides of the transaction. It is in everyone’s best interest that the seller and buyer get to know each other establish a win/win proposition. If you have not purchased businesses in the past you will need some advice on how to structure your purchase offer.