This depends on if you are doing all the due diligence, scouting and finding the business or if we are.

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. Unlike many real estate transactions, it is in everyone’s best interest that the seller and buyer get to know each other establish a win/win proposition. This can be difficult and you need to get into a position to pre-screen businesses that are being sold to even see if they qualify for your buying criteria.

If you have not purchased businesses in the past you will need some advice on how to structure your purchase offer. Most seller brokers are willing to help but it is important for you to understand their primary relationship is with the seller and make sure to seek your own counsel. 

As a Joint Venture partner we will handle all the heavy lifting. You sit back and let us do the hard work. then depending on how involoved or disinvolved you want to be, we then begin to get into contract, obtain due diligence and move to contract. A big piece of this is going to be working with our team of acquisition attorneys who are there to help protect us.

However, due to us utilizing attorneys for acquisitions in the past, it will allow us to utilize the same LOIs and other agreements to cut costs down. We will always seek legal counsel on final purchases and sales to review. We don’t want any issues with any sneaky language that can bite us in the long run.

There is a whole process you must learn on your own or have someone like us as a partner who will help make it a profitable venture.