Business Transfer Specialists, LLC
A Professional Service To Help You Buy Or Sell A Business
Phone: (614) 559-4515
Fax: (614) 559-4562
Typical Qualified Buyer Profile
How BTS Can Assist the Qualified Buyer
Due to the importance of maintaining a high degree of confidentiality for the existing business owner, BTS is only willing to involve the owner with qualified buyers. Here are some common traits of a qualified buyer:
- Individual, business or investor serious about locating a business to purchase.
- Possesses the skills and aptitude to own and operate a business.
- Financially able to afford the purchase of the business or the ability to secure financing for the business.
- Reasonable expectations of what business ownership can provide.
- Has long-term business development goals in place BEFORE buying the business.
- Accommodating to the needs of the prospective seller, the broker and all parties involved.
BTS will be able to assist a qualified buyer through the entire business acquisition process. Below are some of the key steps in helping the buyer secure the business that will best meet their needs.
- Initial meeting to discuss what type of business they are searching for; and where.
- A "Buyer Profile", Financial Statement" and "Non-Disclosure Agreement" are reviewed and discussed.
- Business(es) of interest is/are established. Business owners are then contacted by the broker to establish a line of communication and possible meeting dates (contingent upon buyer signature of the forms listed above).
- A general meeting is set by the broker to introduce the buyer to the seller, and the biz.
- Coordination of presenting an offer and working through due diligence tasks.
Typical Qualified Seller Profile
How BTS Can Assist the Qualified Seller
Working with a qualified seller is very important to all parties involved in the business acquisition process. Some of the seller profile characteristics are:
- Individual or corporation with a serious commitment to selling their business to a qualified buyer.
- Realistic expectations regarding not only the value of their business but the time and energy required to sell it.
- Honest and forthcoming with respect to all aspects of the business they wish to sell.
- Ability to maintain their existing business while taking the time necessary to prepare for selling.
- Realistic expectations regarding the familiarization period, non-compete, owner financing options, closing time frame and other negotiable aspects of a typical sales transaction
- Accommodating to the needs of the prospective buyer, the broker and all parties involved.
BTS will be able to assist a qualified seller through the entire process of selling their business.
- Free Consultation with business owner to discuss all aspects of their business (Broker Confidentiality form is signed by both parties). Terms of the listing agreement and other important transactional documents reviewed. Valuation process for the business is discussed.
- Business valuation is performed upon listing business with terms and conditions.
- Offering Portfolio and other marketing information is assembled.
- Business is listed for sale through multiple confidential marketing channels. Business name and location are not disclosed.
- Qualified buyers are introduced to business owner and all offers are submitted by broker in the form of a formal purchase agreement.
- If offer is accepted broker will help coordinate due diligence and closing.