The 18 Step Buying Process

The 18 Step Buying Process

  1. Decide to investigate. You make the decision to look for a business to buy. You then check out businesses in the newspaper or by working through a business broker.

  2. Confidentiality. If working through a broker, you will sign confidentiality agreements, ensuring the details of any businesses disclosed to you are kept private and confidential for the purpose of assessment of the business alone and revealing nothing to any other party.

  3. Meet with the broker. Set up a meeting with the broker where the broker will pass over a business profile, which is documentation containing full information about the business.

  4. Look over the business. Your broker will take you to the business premises and will show you through the operation for sale. Sometimes the seller is not present and it will be left to the broker to act on the seller's behalf.

  5. Meet with the owner. Eventually you will meet with the owner, where further questions may be answered.

  6. Letter of in...

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