“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 RVA Advisors World HQ. Contact us for details.