“Buy-side” business brokers are a relatively new advent, though counselors for Business Buyers have been around since Fred asked Barney if he should buy that Stegosaurus Burger franchise. A decision with as much gravity as purchasing a business is not to be taken lightly, and requires a skill set that many potential (and current) business owners lack. Our buyer services include:
- An in-depth interview to determine the type of business that’s right for you
- Generating ongoing lists of candidates
- Contacting businesses that may or may not be actively for sale to gauge interest in selling
- Facilitating the exchange of information between parties
- Advising and assisting you in meetings and negotiations
- Analyzing a candidate’s financials and operations to develop a valuation
- Coordinating due diligence and closing process
- Assisting with financing
What’s in it for us? Well, we want to make sure RVA has s strong wave of business owners ready to take over for the nearly 50% of current business owners who say they’d like to retire in the next 10 years. But, in addition, we have the following requirements of our buyers:
- Money. We need to know, exactly, how much money you have to spend. Sound funny? Uncomfortable? Well, buying a business is a lot like buying a house… you have no secrets from your bank or your Realtor, even if you THINK you do. We require that our buy-side clients show a bank statement or pre-approval from a lender (with which we can assist). We’re going to be spending a lot of time shopping and it would be a shame to get to the register and realize you forgot your wallet!
- Willingness and ability. Similar to the above, you must be serious about purchasing a business, not just “kicking the tires.”
- Trust. Our job is to give it to you straight, and we expect the same from our clients.
- Money (again). Yes, we do charge for this service. Helps to keep the lights on at Filament World HQ. Contact us for details.
Without the above, it’s difficult for us to make a compelling case to business owners, who might not even have their businesses actively for sale, that they should spend the time with us. But WITH the above, great and very exciting things can come to pass.