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If you are thinking about buying a business, it’s important to familiarize yourself with the process involved. The first and most important step is to find a professional business broker to provide you with invaluable support in finding the right business at the right price.
Your Renwick Business Broker will help you determine the type of business that best matches your skills, experience and affordability. Your broker will help you do your research and to know what’s on the market and what is considered as “a good business”.
Once we have helped you at shortlisting the most suitable options, your broker will arrange introductory meetings with sellers. As soon as you are ready to take the next step with an acquisition, your broker will assist you at preparing a letter of intent for the business you wish to purchase.
At this stage a fully-refundable deposit is required to complete a due diligence which will assist at ensuring there are no unanswered questions about the business. Your broker will then prepare the agreement of sale, including any special terms and conditions agreed between the parties, before finalizing balance of payment to conclude the sale