What you need to know when buying a business

What you need to know when buying a business

Once a buyer expresses an initial interest in a business they will be asked to sign a confidentiality agreement – often referred to as the Non-Disclosure Agreement or simply "NDA". After this is signed and returned the buyer will receive a "BLI" or one page information sheet on the business. This sheet at a minimum should include the following key information. 

•Name and address of business

•Asking price

•Annual sales

•Cost of goods

•Total expenses

•Owner benefit, including salary and other benefits

•Corporate structure

•Reason for sale

•Lease payment and terms

•Number of employees

•Operating hours

•Is the business a franchise

•Years established

•Years owned by seller

•Licenses or specialized skills required

•Dollar value of inventory on hand

•Opportunity for seller financing

•Value of furniture, fixtures and equipment

•Brief description of the business

Once a buyer expresses an initial interest in a business they will be asked to sign a confidentiality agreement – often referred to as the Non-Disclosure Agreement or simply "NDA". After this is signed and returned the buyer will receive a "BLI" or one page information sheet on the business. This sheet at a minimum should include the following key information.

Upon review of the provided information, if the Buyer remains interested, he will have the opportunity to meet with the Seller by phone or in person.

For a complimentary consultation:
Contact Cecil Williams (cecil@bizbrokerflorida.com) or call  at 888-925-5055 ext.206.  Visit my personal website to search for business for sale in Florida www.bizbrokerflorida.com  Also, visit our Florida Business Exchange website at www.fbxbrokers.com