Business Acquisition Overview

Searching for the perfect business will take some time. Scouring the multitude of websites providing businesses listings can be tiring, and this process has its limitations. In the past 25 years, First Choice Business Brokers has undertaken many custom client searches for buyers, successfully completing transactions and forging years-long partnerships buyers.

Do not be discouraged if the results are not immediate. If the business identified is not currently for sale, the broker will initiate and remain in contact with would-be sellers to “plant the seeds” about selling the business that you desire. Many sellers need time to consider the possibility of selling their business if they are not currently on the market. Some of the best businesses are sold this way without ever making it online.

Sellers may believe they can obtain a premium for their business because they were "solicited.” However, your professional business broker will quickly dispel this belief through skillful conversation.  While all sellers hope for the best possible asking price, most sellers understand that buyers will not overpay simply because the business is not currently for sale.

Once your ideal business has been identified, your First Choice Business Broker will assist in negotiations with the Seller. Upon reaching an acceptable agreement with the Seller to purchase the business, your Broker and your legal and accounting team will guide you toward obtaining licenses, insurance, a lease agreement, and any other activities involved in owning a new business. A key role of your First Choice Business Broker is to facilitate the exchange of information between you and the seller to complete your due diligence and to work out any final details toward a smooth transition of business ownership.

Be aware that you will be asked to complete a Buyer questionnaire, sign a non-disclosure agreement, and provide “Proof of Funds” or verifiable proof of available financing before the search begins. Armed with this information, you'll get faster access to more sellers and more detailed business information.