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information on buying a businessBuying 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 been helping Business Buyers and Sellers navigate the business sale process for over 16 years. We have different types of Businesses for sale across price ranges, industry, and location.  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 Location and Price

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)

To view based on price click on the price range of interest: Price Below $600,001, $700,000 to $1.5Million, $1.5Mill to $4Mill, $4Mill - $10Mill, $10Mill - $25Mill.

Information on Buying a Business within our Industries of Expertise

To read some articles on buying a business within a specific industry, please view some of our pages below:

Fill out an NDA 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 confidentiality is essential to all of the sellers that we represent, and they want to limit providing information to people that 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 help you to 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

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.

Making an Offer

After you understand your financing options and speak with the owner of the business to get your questions answered, its 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.

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, its best to make an offer that is reasonable for it to be considered.

Due Diligence

If the terms of an offer letter are agreeable, then 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 information, to determine whether to move to the next step, which is to have an attorney negotiate a purchase and sale agreement.

Closing

When the attorneys finish negotiating, its time to set a closing date and start to begin 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.

For more information, you can read: what business should I buy and visit Buyer FAQ and Buyer Articles.

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