You’re buying a business and have already “shook hands” on the deal. But there are some things you should insist on before you close. Negotiate a “letter of intent”: An LOI is a short agreement between the parties that spells out all the important terms and conditions of the sale. It will include the purchase price,...
You’ve signed non-disclosure agreements, read many confidential business profiles and narrowed it down to several businesses you like. You’ve reviewed the Seller’s Discretionary Earnings worksheet and perhaps you’ve even had a buyer/seller meeting. The business is a good fit for your transferable experience and skills, and you understand how to grow it. The next step is...
Blog adapted from sunbeltmidwest.com You’re buying a business and have already “shook hands” on the deal. But there are some things you should insist on before you close. 1. Negotiate a “letter of intent”: An LOI is a short agreement between the parties that spells out all the important terms and conditions of the sale. It...
By Randy Krivo, Licensed Business Broker, Sunbelt Business Advisors and M&A Advisor, True North Mergers & Acquisitions As a business broker, I have met with countless buyers over the years and most of them narrow their search to businesses that are in industries in which they have past experience. In some instances, that’s the right...
