Stop Searching, Start Acquiring!
Your Deal Flow Video Library resource is Here!. A Daily Guide to Buying a Main Street Business.
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Buying a Main Street Business
A local shop, restaurant, or service provider, is a common path to entrepreneurship and income replacement.
Identify businesses that align with your interests, skills, and financial goals. Narrow options based on industry and location.
Engage with a Broker
Work with a business broker to facilitate information gathering and deal flow. You'll typically sign a Non-Disclosure Agreement (NDA) to view sensitive information.
Review Business Information
Examine the Confidential Information Memorandum (CIM), which details the business's financials, operations, and potential.
Submit a Letter of Intent (LOI)
If interested, you submit a non-binding LOI outlining your proposed price and key terms.
A broker can assist with
drafting this.
Due Diligence:
Once the LOI is accepted, you conduct a thorough investigation
of the business's
financials and operations to verify
all representations.
Secure Financing
Arrange funding during the due diligence phase.
Options include Small Business Administration (SBA) loans,
which typically require a down payment,
or seller financing.
Negotiate & Finalize the Purchase Agreement
Draft and negotiate the final, binding agreement that covers the ultimate price and all closing conditions.
Closing: Signed, Sealed & Transfered
All documents are signed, funds are transferred, and ownership
officially changes hands.
