So you made a very big decision. You have some money to invest and you have an idea of what you would like to do. How do you get started?
There are plenty of things to consider: What can I really afford? How much working capital do I need? Will I be able to service the debt properly? How do I know that the business is priced right? What kind of business entity should I use-a sole proprietorship? a partnership? a corporation? an LLC? a subchapter S? Who are my competitors? Am I going to have to hire all new people? Do I have to be there to operate it? What documents do I need to complete the purchase?
These questions, and many more, need to be answered properly. Maybe you know all of the answers already or maybe you know how to find out. If that's the case, maybe you don't need any help, but chances are you will!
Working with a Business Broker assists you in clearing up many of the issues that you will uncover and it allows you to take this important step with your eyes wide open. Here are some of the advantages working with a broker will bring:
Experience
Professional approach using standard processes
Proper valuation
Sustantial exposure to sellers
Qualified sellers
Confidentiality agreements
Deal Structure assistance
Negotiating assistance
Proforma business models
Financing assistance, if required
Closing assistance
Transistion assistance
