Non Disclosure Agreement (NDA) required for getting details

00 - nda 3 page - August 2015  Thank you for using our service for finding a great business for sale. Unlike commercial real estate and other things, the identity, location and other factors about a business are highly confidential. Business owners do not want their employees, competitors, creditors, and customers to know that they are looking for a new owner to carry on their legacy. You will receive confidential, private information about the business you have inquired about. Please read, complete and return the attached. After we have received your information and agreement to confidentiality, we will be able to share more details with you regarding this business. If you prefer a digital form just let me know and I can send you one via Rightsignature.com. Attached Forms include: Confidentiality Agreement (CA): / Nondisclosure Agreement (NDA): Please sign and complete. * If you have a partner who will also be looking at the information and / or business, please have him or … [Read more...]

Own the business of your dreams

Are you thinking of becoming a business owner or a perhaps becoming a more satisfied one? Take time to deeply understand why you would choose a particular business to pursue. Free yourself enough to consider any avenue that interests you. Imagine for moment you had all the training, resources and certification to do anything you wanted. Write out five to ten fantasy businesses to lead or work in. Then select the top three that inspire you the most and write out what motivates you about each of them. Write out what you would be doing specifically in a given day or week that fulfills you the most. Discover that which you are most passionate about. Take time to write out how you would like to see the legacy of your life go forward from this point in time. Bring all aspects of you life together in your vision of life legacy. Think about aspects of you life you can control from relationships, health, mind and faith. Take time to assess what is important to you today and consider your … [Read more...]

Legacy Guardian Services – Serving Business Buyers and Visa Seekers

Legacy Guardian Services Business Owner Transition Services for Business Buyers and Visa Seekers Get the support you need. In the process of buying a great business, the You deserve the right support and service to make the best possible decision. If this is your first business acquisition or if you just wish to maximize your opportunity for a smooth, successful transition, Legacy Guardian Service is here to support you. As you identify a business that you are interested in purchasing, there are many things you need to know and many tools you can embrace. Here is some of what is covered in the Legacy Guardian Services program: Market Price Analysis – Are you paying a reasonable price? Get an idea of how the market would price this business. Industry Sold Comps – Get data of other businesses in the same or similar industry and what they have sold for. General Sold Comps – Get data of other businesses across all industries and what they have sold for. For Sale … [Read more...]

Do I need an attorney?

It may be advisable to have an attorney review the legal documents. It is important, however, that the attorney you hire is familiar with the business buying process and has the time available to handle the paperwork on a timely basis. If the attorney does not have experience in handling business sales, you may be paying for the attorney's education. Most business brokers have lists of attorneys who are familiar with the business buying process. An experienced attorney can be of real assistance in making sure that all of the details are handled properly. Business brokers are not qualified to give legal advice. However, keep in mind that many attorneys are not qualified to give business advice. Your attorney will be, and should be, looking after your interests; however, you need to remember that the seller's interests must also be considered. If the attorney goes too far in trying to protect your interests, the seller's attorney will instruct his or her client not to proceed. The … [Read more...]

Why should I go to a business broker?

A professional business broker can be helpful in many ways. They can provide you with a selection of different and, in many cases, unique businesses, including many that you would not be able to find on your own. Approximately 90 percent of those who buy businesses end up with something completely different from the business that they first inquired about. Business brokers can offer you a wide variety of businesses to look at and consider. Business brokers are also an excellent source of information about small business and the business buying process. They are familiar with the market and can advise you about trends, pricing and what is happening locally. Your business broker will handle all of the details of the business sale and will do everything possible to guide you in the right direction, including, if necessary, consulting other professionals who may be able to assist you. Your local professional business broker is the best person to talk to about your business needs and … [Read more...]

What happens when I find a business I want to buy?

When you find a business, the business broker will be able to answer many of your questions immediately or will research them for you. Once you get your preliminary questions answered, the typical next step is for the broker to prepare an offer based on the price and terms you feel are appropriate. This offer will generally be subject to your approval of the actual books and records supporting the figures that have been supplied to you. The main purpose of the offer is to see if the seller is willing to accept the price and terms you offered. There isn't much point in continuing if you and the seller can't get together on price and terms. The offer is then presented to the seller who can approve it, reject it, or counter it with his or her own offer. You, obviously, have the decision of accepting the counter proposal from the seller or rejecting it and going on to consider other businesses. If you and the seller agree on the price and terms, the next step is for you to do your … [Read more...]

What does it take to be successful?

Certainly, you need adequate capital to buy the business and to make the improvements you want, along with maintaining some reserves in case things start off slowly. You need to be willing to work hard and, in many cases, to put in long hours. Unfortunately, many of today's buyers are not willing to do what it takes to be successful in owning a business. A business owner has to, as they say, be the janitor, errand boy, employee, bookkeeper and "chief bottle washer!" Too many people think they can buy a business and then just sit behind a desk and work on their business plans. Owners of small businesses must be "doers." … [Read more...]

What should I Look for?

Obviously, you want to consider only those businesses that you would feel comfortable owning and operating. "Pride of Ownership" is an important ingredient for success. You also want to consider only those businesses that you can afford with the cash you have available. In addition, the business you buy must be able to supply you with enough income - after making payments on it - to pay your bills. However, you should look at a business with an eye toward what you can do with it - how you can improve it and make it more productive and profitable. There is an old adage advising that you shouldn't buy a business unless you feel you can do better than the present owner. Everyone has seen examples of a business that needs improvement in order to thrive, and a new owner comes in and does just that. Conversely, there are also cases where a new owner takes over a very successful business and not soon after, it either closes or is sold. It all depends on you! … [Read more...]

How are businesses priced?

Generally, at the outset, a prospective seller will ask the business broker what he or she thinks the business will sell for. The business broker usually explains that a review of the financial information will be necessary before a price, or a range of prices, can be suggested for the business. Most sellers have some idea about what they feel their business should sell for - and this is certainly taken into consideration. However, the business broker is familiar with market considerations and, by reviewing the financial records of the business, can make a recommendation of what he or she feels the market will dictate. A range is normally set with a low and high price. The more cash demanded by the seller, the lower the selling price; the smaller the cash requirements of the seller, the higher the price. Since most business sales are seller-financed, the down payment and terms of the sale are very important. In many cases, how the sale of the business is structured is more … [Read more...]

What is the real reason people go into business for themselves?

There have been many surveys taken in an attempt to answer this question. Most surveys reveal the same responses, in almost the same identical order of priority. Here are the results of a typical survey, listed in order of importance: 1. To do my own thing, control my own destiny. 2. Don't want to work for someone else. 3. To better utilize my skills and abilities. 4. To make money. *It is interesting to note that money is not at the top of the list, but comes in fourth.  … [Read more...]