businessbuilders

  A Basic Outline: The Process of Buying a Business This outline was created to help buyers understand, at a high level, each stage of buying a business. When it comes to buying a business, there are complex transactions. Each stage will have its own timeframe based on the unique complexities of each business. It's important for buyers to understand that selling a business requires sellers to disclose confidential information. A good business broker will control the amount of information released to help limit the seller's exposure and protect the confidentiality of the sale. Stage 1: Initial Inquiry and Response Making an Inquiry: Contacting the business broker. Initial Response: Business broker provides a Non-Disclosure Agreement  (NDA) and buyer profile  to be completed by the prospective buyer. Purpose of NDA: To protect the confidentiality of the business’ information. It also prevents the prospective buyer from contacting the seller directly. Stage 2: Receipt of Pr...