Buying a business is not easy and you will have questions and concerns. Selling a business creates just as many questions and concerns for the seller. You can often get a significantly better price and terms by being aware of the seller's needs and removing some of his/her uncertainties.
Resumé and Financial Statement: The more information the seller has on your experience, qualification and financial situation, the more likely he/she will be to accept your offer to purchase. By extending financing to you, the seller is acting as your banker and he needs to feel comfortable with you. Remember, once the seller accepts your offer, he is committed, but you still have contingencies to remove before moving ahead.
A Fair Offer: A fair offer is one that realistically satisfies the needs of both you and the seller. Sometimes this results in an offer that is different from the listed terms. We help develop a win-win Offer to Purchase. A word of caution: What about unreasonable offers? They can damage your relationship with the seller, possibly reducing your chances of getting the business for a fair price.
Reasonable Down Payment: Every buyer wants to conserve cash, but a very low down payment can indicate a buyer's lack of commitment to the business. The number one concern of sellers is the safety of taking a note from the buyer. If the seller questions a buyer's commitment or seriousness about the business, the seller may negotiate seriously with the buyer.
Quick Removal of Contingencies: It's to everyone's advantage to proceed through the contingency removal phase in a quick but thorough fashion.