What defines a serious business buyer?
● Personal profile(education, work experience)
● Who will buy the business ( you, your wife, partner)
● Why do you want this business ?
● What are your investment criteria?
● How will you be financing the purchase of the business? If bank financing will be utilized, a
prequalification letter should be included. How much money do you have for a down payment?
● What industry experience or transferrable skills does the buyer have?
● What is the type of business the buyer is seeking and why?
● Realistic expectations
● Ability to react quickly
● What is your timetable to complete the acquisition?
● Who is your advisory team? Which attorney will be drafting the Asset Purchase Agreement and
facilitating the closing? Do they have experience with business acquisitions?
What are the contingencies for the business acquisition? Do you have to leave your current job?
Do you have to secure funding from a partner or a bank?
With all the uncertainty in the world today, the best advice is to be prepared.
You want to buy a business that fit to your style, you need to know and prepare to short/close the escrow
1. Expect to sign a Non Disclosure Agreement known as NDA from the business brokers to
2. Fill out the Buyer Profile Form to know if this business will fit to your expectation
3. Sellers want to know about you before allowing the business brokers to release the seller’s
business confidential information, for example proof of down payment.
4. If you plan to have a SBA loan, please take a look their requirement and gather documents
which help you