Information On Buying a Business
Buying a business can be a complicated procedure, from finding the right one to negotiating terms and working out all the details required for a smooth transfer of ownership.
Synergy Business Brokers has helped Business Buyers and Sellers navigate the business sale process for 20 years. We have different types of Businesses for sale across price ranges, industries, and locations. Below is some information that may be helpful as you consider which business might be right for you.
Identifying your strengths and interests
The first step is to identify your strengths, interests, and financial capabilities to buy a business. This will help you in determining which businesses for sale might be of interest. Next, you can view our Businesses for Sale. You can view them based on industry, price, location, keyword search, and more.
Viewing Businesses for sale based on industry
To see companies for sale based on industry, please click on the sector of interest:
View Companies for sale based on State
To view based on location, please click on the state of interest (Within each state and industry, you can sort based on price, keyword, and more)
- Alabama Businesses for sale
- Connecticut Businesses for sale
- Illinois Business for sale
- Indiana Companies for sale
- Lousiana Businesses for sale
- Maine Businesses for sale
- Maryland Companies for sale
- Massachusetts Companies for sale
- Michigan Businesses for sale
- Mississippi Companies for sale
- Missouri Businesses for sale
- New Jersey Businesses for Sale
- New Mexico Companies for sale
- New York Companies for sale
- North Carolina Companies
- Ohio Businesses
- Oklahoma Firms
- PA Businesses for sale
- Tennesee Companies
- TX Businesses for sale
- Virginia Businesses for sale
View Companies for sale based on Price Range
- Under $1 Million
- $1 Million to $2 Million
- $2Mill to $3Mill
- $3Mill - $5Mill
- $5Mill - $10Mill
- Over $10 Million
Fill out an NDA For Buying A Business online
When you have found a business you would like to get more information on; please click on the Non-Disclosure Agreement on the listing of interest. Once you've filled out the NDA and Buyer Registration Information, a Broker will follow up with you. Please keep in mind that confidentiality is essential to all of the sellers we represent. They want to limit providing information to people who are financially qualified to buy their business.
Narrowing your search to a specific business
You can consider the business's strengths, weaknesses, and how your skills and interest would improve and grow a particular company. If it seems like a good fit, then the next step would be to speak with the broker that has the listing of interest and discuss the business and your background further to see if it's worthwhile to set up a meeting or phone conversation with the owner of the company.
Financing to Buy A Business
We can put you in touch with several banks to make sure that you can qualify for a loan to buy a business of interest. In many cases, we supply the information to the bank on the company, and you just need to fill out an application to determine what you can qualify for. Some business owners may be willing to provide some seller financing for part of the purchase price.
Making An Offer On A Business For Sale
After you understand your financing options and speak with the business owner to get your questions answered, it's time to think about whether you want to make an offer for the company. A business broker can help you to draft a letter of intent that outlines the price and terms that you are proposing to purchase a business.
Once you sign the letter of intent, the business owner will review it and see if it is acceptable or if they will make a counteroffer. If the offer is not in the ballpark, sometimes the owner will decline the offer without making a counteroffer. If you are serious about the business, it's best to make an offer that is reasonable for it to be considered.
If the terms of an offer letter are agreeable, both parties will sign it, and the next phase is to move to due diligence. You will verify some more information about the business, including financial statements, tax returns, balance sheets, intellectual property, customer base, and contracts. to determine whether to move to the next step: to have an attorney negotiate a purchase and sale agreement.
Closing to Buy A Business
When the attorneys finish negotiating, it's time to set a closing date and start the next chapter in ownership of your new business. Not to worry, the seller typically helps the buyer to learn the business, including their customers, employees, products, and services, etc.
More Information on Buying a Business
You may be considering whether to buy an existing business vs starting a new business. Buying an ongoing profitable business offers the advantage of instant cash flow, customers, and employees. In most cases, a business acquisition will give you a favorable return on investment. For more information, you can read: what business should I buy and visit Buyer FAQ and Buyer Articles.