Buying A Business
The process of buying a business
can be a rewarding and productive experience. Venture Group Business
Brokers will provide assistance to Buyers and contribute to the
transition by offering expertise and guidance at every step in the
process.
First, an interview is set up between the Buyer and VGBB to establish
the Buyer's criteria and to determine his financial, business and
technical abilities. A nondisclosure agreement, real estate agency
disclosure and confidential buyer questionnaire are completed at
this time.
The Buyer's specific criteria
will be assessed in determining candidates for potential acquisition.
The pertinent details including financial information and information
on the process of buying a business is then communicated to the
buyer. After the buyers research of the industry under consideration
is completed, a visit to the seller business facility is arranged.
VGBB will then work with the buyer to develop an offer. VGBB will
act as an intermediary in negotiating the offer between the buyer
and seller. After the completion of due diligence, the sellers attorney
will prepare a contract of sale and forward to the buyers attorney
for review. A closing date is then scheduled. VGBB will work with
the buyer to secure the financing approval, transfer of licenses,
the assignment of franchise rights, if any, and performance of due
diligence for the specific company. At the closing the buyer picks
up the keys to the business and begins his/her business ownership.
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