BUYERS

Seeking individual advice from professionals with experience in the buying and selling of businesses can keep you from making a costly mistake.  Perhaps the most important reason to obtain professional assistance during this process is to have someone who can look at the transaction from a business perspective without becoming emotionally attached to the deal.
   
Should you elect to engage a professional to assist you during the due diligence process, the Business Resource Group is willing to discuss any opportunities you have.  
  
Whether you're a Individual Buyer, Strategic Buyer, Synergistic Buyer, Industry Buyer or Financial Buyer, we'll be able to guide you to the right solution.  We act as intermediary helping you collect the data needed for your valuation.

Due diligence is the process of obtaining an understanding of how a business is run and evaluating the representations made by the seller.  While this may seem rather simple, there are many issues that need to be addressed as part of the due diligence process.
  
Buying a business is not a simple process and professional help is extremely important.  Although we represent the seller in the transaction, our ultimate goal is to assist both the buyer and seller in making the deal close as easily as possible.  There can be bumps and hurdles to overcome and Business Resource Group tries to make these as uneventful as possible.  Our job is to assist both parties in accomplishing the goal they set out to accomplish.
  
To become a qualified buyer through Business Resource Group, we need additional information in order to provide you with confidential business information.  A Buyer's Profile is necessary to ensure you fit with the business you are looking at.  We also require a Personal Financial Statement with helps us know the funds you may have available or net worth to look at a business.
  
To get qualified today, you will need to download the following forms, complete them and return them back to our office by faxing them to 330-202-7685.

• Buyer's Profile - required
• Personal Financial Statement - required

  
"What we can do for you..."

Security
A big advantage in buying an ongoing business is that you as the new owner have an immediate cash flow and an established customer base.  You do not have to build a business; you simply take over an existing successful business with the present owner’s assistance.

Confidentiality
Unlike the sale of real estate or franchises, the sale of an ongoing business is very confidential for both the seller and the prospective buyer.  All inquiries are held in strict confidence.  Meetings are confidential, and we are available after hours and on weekends.

   
Things a buyer should know 

We at Business Resouce Group are advocates of finding a business that you like and feel comfortable managing.  You, like every other prospective buyer, have a vision of being your own boss and calling your own shots.  An old saying in the real estate industry is … “The three most important things a buyer should look for are location, location & location.”  While location is important to a business buyer, be aware that track record and management round out the three components of a successful business.  Let us assume that you find a business that you like and its location is fine.  But because of poor management, the business may not show the greatest record of accomplishment.  Purchased for the right price and terms, this business could become more successful with proper management making it a good way to achieve your vision of being in business for yourself.  Finally, be aware that many businesses sell for much less than they are originally listed… sometimes-even 50% less.  So, if it is a business that you like, do not be afraid to make what you consider to be a low offer.

The Process 

The process of buying a business is as follows:

¨      Evaluate the basic information on alternative businesses that sound
            interesting to you.
¨      Visit the business (if possible) without announcing yourself as a buyer 
            (incognito) to get a “feel”
            for the business.

¨     Meet with the Seller, asking from general to probing questions on anything 
      and everything, except
      actual price negotiations.

¨     Do your preliminary evaluation, based on the information provided by the seller
      to Business Resource and you.

¨     Make an offer, assuming that all of the information you have been provided is 
     correct, but include contingencies, which allow you to confirm such information.

¨     Once a sales price is agreed upon, make a closer investigation of the business,  
     confirming to your satisfaction the validity of your offer.

¨    Have documents prepared for the closing.  You may agree with the seller to
     share the cost of a closing attorney.  This lawyer will not argue the position 
     for either party, but drafts all necessary legal documents to comply with the
     agreement a buyer and seller have reached.

¨     Close the purchase, and begin your first day as the owner of your own business.  
     The seller will assist in an orderly transition because most of his money is
     coming from your success.

¨     You are part of the American Dream – You and your family own your own business!

• 90% of all buyers are first-time buyers.  In other words, they have never been in business before.
• 90% of all buyers will finance the purchase of their business.
• 90% of all buyers do not know what kind of business they want or best serves their needs.
• 90% of all buyers are terrified and/or uneducated in the business buying process.
• 70% of all sales will be financed by the seller.
• 90% (or more) will not buy the business that was advertised or the one that they called in on.

   
Advantages of Buying an Existing Business

• Actual results rather than pro-forma.

• Immediate cash flow.

• Trained employees in place.

• Established suppliers and credit.

• Established customers and referral business.

• Existing licenses and permits.

• Training by the seller.

•  The availability of owner financing.

    
Advantages of Buying A Franchise

• Known name means instant recognition.

• Proven product or service.

• Ongoing support means you are in business for yourself but not by yourself.

•  Better than 90% of new franchises are successful.

• Operating system in place all the mistakes have been made!

• Opportunity to add additional units within the franchise system.

•  Training by the seller.

•  The availability of owner financing.