The Best Ways To Buy The Business You Want To Run.

1. The Best Ways To Buy The Business You Want To Run. Upon engaging a Orlando business broker, we will interview you to gather all of the necessary information to build your CIM. We will also review your financial statements – including income statements, balance sheets, and tax returns over the past 3 years, at a minimum. It helps if your financial statements have been prepared or reviewed by a certified accountant. You will be asked to provide a list of your inventory (if you have inventory), as well as a list of top customers and top suppliers over the past 5 years. Buyers are interested to view in concentration in customer or supplier relationships, and to review contracts that are in place with suppliers. At this point in the process, we may mutually choose to engage an outside party for a business valuation. Based on our experience and research of the market at the time, we should have a good idea on how to value the business and set a purchase price. But it is sometimes necessary to bring in another valuation expert. Thats the perfeect time to looking for Orlando Businesses For Sale After combing through the financials and preparing your CIM, we will prepare our buyer’s list by pinging our existing network and by doing research in the industry. We will advertise the business on business listing websites and industry publications. Once interested buyers start putting in their requests, Sell My Business Portland will obtain signed nondisclosure agreements from all buyers before releasing the CIM and engaging a buyer to answer any questions they may have. Once interested and qualified buyers have been vetted, we will introduce them to you and conduct conference calls or in-person meetings to hash out a deal. It is important for your business broker during this phase of the process that you, as the seller, remember that you are interviewing the buyer just as much as they are doing their own due diligence on your company for sale. Many business owners are concerned about how new ownership will treat their existing employees, suppliers, and customers. And rightfully so, as you have invested so much time and energy building the reputation of the business over the years. If after several conversations the interested party would like to put an offer on the business, we will accept a Letter of Intent, or LOI, from the buyer. This spells out the offered purchase price and the desired deal terms offered to you to sell the business. We will counsel you on the good and bad of the LOI, and it is up to you whether or not you’d like to accept. Once we have an accepted LOI, the process moves into due diligence. The buyer will step up the intensity of their evaluation of every aspect of the business. Be prepared for a lot of work during this time, as we provide detailed answers and also work with our respective attorneys to complete an agreeable purchase agreement.