The Buying Process

The process of buying a business is as follows:

• Evaluate the basic information on alternative businesses that sound interesting to you.
• Visit the business (if possible) without announcing yourself as a buyer (incognito) to get a “feel” for the business.
• Meet with the Seller, asking from general to probing questions on anything and everything, except actual price negotiations.
• Do your preliminary evaluation, based on the information provided by the seller to GB Resource Group and you.
• Make an offer, assuming that all of the information you have been provided is correct, but include contingencies, which allow you to confirm such information.  GB Resource Group will show you how to write an offer to protect you as the buyer.
• Once a sales price is agreed upon, make a closer investigation of the business, confirming to your satisfaction the validity of your offer.
• Have documents prepared for the closing.  You may agree with the seller to share the cost of a closing attorney.  This lawyer will not argue the position for either party, but drafts all necessary legal documents to comply with the agreement a buyer and seller have reached.
• Close the purchase, and begin your first day as the owner of your own business.  The seller will assist in an orderly transition because most of his money is coming from your success.
• You are part of the American Dream – You and your family own your own business!