Focusing On the Right Business Opportunities
The first and most important step for the Business Broker is to learn about the general goals of the prospective Buyer, as well as his/her financial capabilities. Then the broker must determine the specifics of the type of business that the buyer is looking to purchase, such as the specific industry they are interested in, the size of the business they’d like to purchase and the geographic locations that would be acceptable.
As professional business intermediaries, it is important that we understand our clients’ objectives, and that they understand the process by which we assist them in achieving those objectives.
Making An Offer
After meeting the business owner and touring the business, the next step is to present an offer of purchase for the business. Since most sales involve privately held businesses, the buyer is obligated to make an offer before actually reviewing the internal financial records of the business. The Buyer should understand that the offer they make is always contingent upon the Seller demonstrating the accuracy of its representations to the Buyer’s satisfaction. It is then the Buyer’s duty and obligation to verify the accuracy of the Seller’s representations by retaining attorneys, accountants, business appraisers or other professionals, as necessary.
Business Acquisition Search
Excelsior Business Group offers a Business Acquisition Search Process through which we do the heavy lifting in the search for appropriate business opportunities to present to our clients.
When We Do A Business Acquisition Search:
We handle all the necessary details involved in the search for the right business opportunity
We pre-qualify all potential businesses, presenting only those which meet our client’s criteria
We pre-qualify each seller’s motivation for selling, before presenting their business to our client
We handle all the necessary details involved in the successful transfer of ownership
As necessary, we coordinate all relevant activities with associated attorneys, accountants, lenders, landlords, insurance carriers/agents and any other relevant professionals involved in the process.
Most importantly, we keep our clients informed and involved in the process, while enabling them to continue focusing on running their current business