Our Business Buying Process
At Midway Business Brokerage, we can offer you support in acquiring your ideal business through the following steps:
1. Getting to Know You
One of our business brokers will work with you to find the right business for your goals and preferences that is within your budget.
After your initial conversation with one of our brokers we will ask you to sign a Non Disclosure Agreement (NDA). By signing this document we will now be able to share with you confidential information regarding the business.
3. Proof of Funds
Be prepared to provide us with your or your investors proof of funds. Many Sellers won't disclose confidential details without knowing you are able to complete a transaction by seeing your proof of funds.
4. Our Business Listings
Once you have signed up as a buyer we will then review with you our listings that best fit your needs. If one of our current listings doesn't fit your needs we can add you to our email list and keep you updated on any new listings that arise.
5. Analyzing the Business
Once we find the right business, we will review with you the business background, financials and internal workings of the business.
6. Setting up a Meeting
Once you determine you have an interest in a particular business your Midway Business Broker will arrange a meeting with the Seller for you to view the business and discuss the business further directly.
7. Presenting an Offer
Following the meeting, the buyer will then draft and submit a Letter of Intent (LOI). This can be done by an attorney or the buyer can draft it themselves. The LOI is a proposal that details the terms of the offer for the business. Once the LOI is accepted the buyer is then to perform their due diligence. Should you choose to move forward you should have an experienced business acquisition lawyer on stand by.
8. Closing the Deal
Once you have finalized the terms of the contract your attorney will prepare the final transfer of documents and work with you to ensure a smooth closing.
At Midway Business Brokerage, you can count on us to make your buy business process as smooth and painless as possible.