Buy Suncoast Business / Sarasota Business Broker / Tampa, St. Pete
Buy Suncoast Business / Sarasota, Central Florida
Buying a Business can be a difficult experience. Sinclair Business Brokers can assist the Buyer and can guide and educate during this process. The Buying process can take a couple of months and as long as a year. We have helped hundreds of people buy businesses and we can answer all of your questions.
How to Buy Suncoast Business
An interview between the Buyer and Sinclair Business Brokers is set up to establish the criteria and determine the Buyer’s financial, technical and business abilities. A confidential buyer questionnaire is completed. When business names and confidential info is to be shared a “Confidentiality Disclosure” form and a buyer personal financial statement is submitted. When selecting a business broker, find one you like and trust. Make sure they are licensed, which is mandatory in the State of Florida. Check out their website and experience. Ask for references. Build a relationship with just one associate in our office. He/She can show you everything for sale.
The Buying Process
Following the Buyer’s research of the industry that interests him/her, a target company is selected, and a meeting is set up with the Seller at the Seller’s facility. We will work with the Buyer to obtain enough initial info so that we can develop an offer for the Business that we will incorporate into an asset purchase contract. This will address the price for the Business, proposed down payment, non-compete, training, assets that are included in the sale, allocation of the purchase price, lease contingencies, due diligence period, and the closing agent. Sinclair Business Brokers, works with the parties to insure a smooth transition and will handle all the details necessary to close the deal.
COMMITMENT
Your commitment to purchase a business at price and terms consistent with the marketplace that is consistent
with your needs and abilities.
DISCLOSURE
You sign an agreement promising to maintain confidentiality for all the information provided to you on the
businesses we discuss.
BUSINESS BACKGROUND INFORMATION
You provide us with information about yourself, such as a resume and financial statement.
The more we know about you, the more likely we can find a business you will like.
The more information we provide the seller, the better the terms he will consider.
REVIEW
Together we discuss and review various types of businesses you could buy and select some that appeal to you.
INTRODUCTION
We introduce you to the businesses you are interested in and discuss the important factors of each.
MEETING
A meeting between you, the business seller and us may take place. This gives you the chance to ask questions you
may have about how the business operates and to describe your qualifications to the seller.
OFFER TO PURCHASE BUSINESS
You write, with our assistance, an offer or letter of intent for the business you are interested in buying.
PRESENT AN OFFER TO BUY THE BUSINESS
- Earnest money may be required to demonstrate the seriousness to the seller.
- Most offers are contingent upon your inspection of the books and records of the business. The offer is not binding until you remove all contingencies.
We present your offer to the seller
YOUR BACKGROUND INFORMATION
We give to the businessess' seller your background, financial information, experience and point of view in arriving at the
offering price, terms and conditions. Favorable background information about you will result in favorable
consideration of your offer.
EXPLANATION
We carefully explain the terms and conditions of the offer to the seller and decision makers.
ACCEPTANCE
The seller accepts the offer to purchase as presented or counter offers.
MUTUAL ACCEPTANCE
When buyer and seller agree to all terms and conditions of the sale, the offer becomes a Purchase and Sale Agreement.
DUE DILIGENCE
You meet with the seller to examine the financial records. Any questions you have are resolved at this time.
We work with the landlord to get an assignment of the current lease or new lease for you.
OPEN ESCROW - CLOSING ATTORNEY
We provide all documents to the transferring agent or attorneys so they can prepare the closing documents.
They make arrangements to assign any notes or equipment leases.
BUSINESS INVENTORY
They make arrangements to assign any notes or equipment leases.
Arrangements are made for you and the seller to count and price the inventory (if required).
TRANSFER OF BUSINESS OWNERSHIP
All parties meet to sign documents.
Please contact us with any questions about buying a business.