Individual Buyers
Navigating The Process
How does an individual purchase a business? First he or she must decide to take that first step and contact a qualified advisor. Mid America Advisors also strongly believes that business ownership is the best path to personal and financial success in America today. Most individuals who seek to purchase a business can do so with our assistance. We offer a large selection of exclusive businesses for sale. Most businesses prices range from $25,000 to $10,000,000. In addition, all businesses require positive cash flow. We also offer select franchise start-ups for sale. Our advisors provide a “Market Evaluation” for the seller giving them an opinion as to the approximate value of the business. This helps ensure the buyer has a fair asking price on the business.
Our advisors provide the buyer with as much information as possible about the different businesses so that they can make an informed decision. All buyers are required to sign a confidentiality agreement before the business name, address, and financials can be released.
All Mid America listings require the following actions from sellers before we make them available to the public:
- An in-depth response to our Business Questionnaire and prove that they are not only the owners, but also licensed to operate their business.
- An onsite visit from our advisors to determine the suitability of the business for a sale;
- A minimum of three (3) years of Profit & Loss Statements and Tax Returns;
- Signed documentation by the seller that all financial and subjective information is correct;
- Assistance preparing a full-scale marketing package for a buyer to review and keep.
Individual buyers should be prepared to give our advisors relevant information as to the type of business they may be interested in, the amount of cash they are working with, the amount of income they require from the business and the decision as to who will be running the business.
Your First Business
Excellent primer on the process for individual buyers as they begin the journey to business ownership. Written by BizBuySell author.
Written By
BizBuySell
NDA
Our non-disclosure agreement which we require every potential client to sign prior to giving any details on an opportunity
Written By
Mid America Advisors
SBA 7A Loans
Small Business Administration link on the 7A lending program, typically the main one used by buyers to purchase a business.
Written By
SBA
Making A Decision
When you have selected an industry or business you have an interest in, our advisors can assist in providing information to help determine if that business fits your needs.
Buying a business is very much like buying a home: the advisor shows you a selection of businesses and you make a decision to write up an offer to purchase. If accepted by the seller, there is a period of inspection known as “due diligence”. The buyer lines up financing and the business closes at an agreed-upon time and place. Unlike a home purchase, most businesses will require some amount of down payment. Another difference is that many sellers are willing to carry some financing if the buyer is qualified to run the business and makes a down payment Another difference between buying a home and a business is the fact that the business purchase is usually completed in just a few short weeks, subject to due diligence.
Our job is to assist the buyer in negotiations, lease approval, writing and presenting offers to the Seller. We sometimes act as a “go between and mediator” between the buyer and the seller and assisting the buyer in obtaining the necessary licenses and any other requirements to operate the business.
Your CPA, Attorney, And Other Parties Are Always Welcome At The Table
Since Mid America Advisors does not handle legal or tax matters, we always encourage our clients to bring their trusted professionals to the table as part of this process.
We are happy to work with both buyers and sellers and outside advisors (including other Intermediaries) to find opportunities that meet all party’s requirements.
We make sure that at the closing of the transaction, all necessary paperwork is completed so that both buyer and seller have the necessary documents to ensure a smooth transition. And since we are not fiduciaries, you can rest assured we do not handle deposits or any outside forms of funds.
