When starting a business search, it is important to have a clear understanding of the business acquisition criteria. The buyer needs to zero in on the following criteria: geographic area, industry, asking price, income requirements. It is important to look at the business opportunities consistent with your needs and abilities as a business owner.
Non-disclosure agreements are the first step towards learning more about a business opportunity and are required to be signed by any prospective buyer looking for further information on specific listing. You can review and execute a Confidentiality Agreement online for each of our Businesses for Sale by clicking on the Inquire Now button for a particular business listing.
We expect all buyers to provide a high level information regarding their professional background, qualifications and financial capabilities. The sellers are generally more open and comfortable with additional information and favorable terms to a buyer who is forthcoming in providing such information. We require a buyer profile in addition to the Confidentiality Agreement prior to disclosing confidential information for any of our business listings. The buyer profile can be submitted electronically online at the time of execution of Confidentiality Agreement.
Once the NDA executed and Buyer Profile submitted, you will have access to Confidential Business Review containing detailed information for specific listing you inquired about. Your broker will give you further insight on the business, key points, and latest changes as well as answer any additional questions you may have after initial review.
Should you find the opportunity appealing and would like to pursue further, at this juncture we will set up a face-to-face meeting between buyer and seller with the broker present. The main goal for this meeting is information gathering and getting to know each party. You will be able to ask questions about all aspects of the business, while the seller will have an opportunity to learn further about you, as a potential buyer.
Either your attorney or INIX Broker will assist you with the draft of Letter of Intent to purchase the business based on the terms and conditions you specify. You may be required to put up earnest money to demonstrate your seriousness to the seller. Most offers are contingent upon your due diligence of the business in order to verify that it has been accurately presented to you. The offer is not binding until you are satisfied and remove all contingencies.
Once the offer accepted, you will have an opportunity to conduct financial, operational and legal due diligence. We will assist with due diligence process, work closely with your advisors and utilize an online secure data room to facilitate a smooth and secure process. You will be asked to provide a written satisfaction with Due diligence at the end of the period in order to remove it as contingency.
In the event that a landlord is involved with the business dealings, we will work with this entity to either get an assignment of the current lease or new lease for you.
We firmly believe in both parties walking away from the closing table feeling accomplished and highly satisfied with their decision. If questions arise after the closing, your broker is available to address your concerns or point you in the right direction, whether it’s an additional resource or clarification.