If the numbers look good, you submit an LOI. This is a non-binding offer that outlines the price and terms. Once signed, the seller "takes the business off the market" for a set period (usually 30–90 days). 4. Due Diligence: Trust but Verify
Much like real estate agents, brokers represent sellers. Building a relationship with a few local brokers can give you early access to "pocket listings." how do you buy a business
Why is the owner leaving? Is the business too dependent on the owner’s personal relationships? 5. Financing the Purchase Most buyers don't pay 100% cash. Common structures include: If the numbers look good, you submit an LOI
Ensure there are no pending lawsuits, clear titles to all equipment, and valid leases. Is the business too dependent on the owner’s
Do you want something "boring" but stable (like HVAC or laundromats) or something high-growth (like SaaS)? Size: What is your budget?