Buying a business can be a confusing and even stressful event, even for the most experienced buyers. As such, it’s important for any prospective buyer to be knowledgeable about the processes involved in acquiring a business. Thoroughly understanding the process will assist any buyer with the demands of business transfers.
The majority of all business buyers are first time buyers, who are unprepared to meet the complexities of a business acquisition. However, whether you are considering your first acquisition or are a seasoned investor, you can look to us for assistance in every phase of the transaction.
The prospective buyer may be a corporation, private investment group or a sophisticated private investor who has a preconceived idea of the type of business desired. On the other hand, many first time buyers are still in the formative or exploratory stage of their search. Frequently, that buyer's first question is, "What kinds of businesses do you have?" Although we have many business listings, that question can only be answered properly when we have some idea of the prospective Buyer's resources, skills, needs and goals.
Berkowitz Acquisitions spends considerable time with each prospective Buyer. We first gather all the specific information about the individual’s needs in order to match the Buyer to an appropriate business opportunity. At that point it sounds like the job is done, but in reality the business buying process has only begun.
Click each to learn more about each step.
As mentioned earlier, when buying a business, the choice of type of business and location are yours, but one must be practical. Berkowitz Acquisitions will help you determine your skill sets, experience, likes and dislikes in order to choose an industry that fits your profile. Likewise, one must consider the location of such a business to ensure there are sufficient market opportunities for sustainable growth.
The majority of business purchase transactions require some form of financing. We work with our Buyers to secure the appropriate financing. This may involve seller financing, bank loan, venture capital financing, angels financing (private investor), SBA financing, and funds obtained through other financing resources. Regardless of your financing requirements, we will provide guidance and assistance in locating the right lender.
Once an offer is made to the seller, we will help you with the negotiating process to ensure that the price to value is fair. However, there are other issues that may be of equal or greater importance in the negotiating process. Examples may include the desire for seller financing, non-compete agreements, disposition of receivables and payables, as well as many other items of which buyers may not be aware. Berkowitz Acquisitions will guide each of our buyers to ensure that they are fully aware of all aspects of the business purchase important to its future success.
Once due diligence is completed, financing is arranged, leases are assigned, utilities are transferred, inventory is counted and all documents are prepared, Closing can occur. While this sometimes is a complicated process, Berkowitz Acquisitions will be there with your attorney to help the process go smoothly.
Once the business is officially transferred to the new owner, we will be available to help with the transition process. There will be many things to do, including conducting employee meetings, transferring files, updating computers, participating in transitional training by the seller, and managing a series housekeeping tasks typical of such transitions. Berkowitz Acquisitions will be there to help.