Congratulations! You have decided to aquire a business. DJB Realty, LLC can streamline your search and assist in your aquisition of your new business. Though no two business transactions are alike, listed below is "10 Steps" for a guideline to be customized for your unique purchase. Step 1 Take a sincere look at your strenghs and weaknesses to decide if business ownership is right for you. Value the risk versus rewards of any particular venture you may seek before entering into any purchase. Step 2 Find the best TEAM that you can. This includes but is not limited to your accoutnant, attorney, business broker, banker, etc. Step 3 Gather a complete financial overview with documentation of where you are at now along with a resume' of your past experiences/duties/posistions held. All bankers and/or lenders will ask for this so you might as well have it ready beforehand. Step 4 Get pre-qualified with your lender. A brief inquiry with your financail sources will give you a guide of what ranges are available to you if outside funding is needed. Step 5 Submit your "Buyer wants and qualification" report to your business broker. This will narrow the results to those most suited for your particular qualifications and requests. Step 6 Review findings from your broker and analize for your particular objectives. Schedule showings of those of most interest and complete initial due dilligence. Step 7 Narrow your selections and speak with your team about the merrits and risks of each after due dilligence. Step 8 Make your offer with a good faith deposit and supporting documents pending any contingencies advised by your team. Step 9 Complete any contingencies Step 10 Close on the purchase of your new business & have monthly contact with your team after the closing. |