Why do I have to complete a Non-Disclosure Form?
- A Non-Disclosure Agreement provides business owners with information from you that tells them you are legitimately interested in their business. It gives them confidence that you will not disclose their important and often proprietary business practices as you investigate their business opportunity and it helps to protect their business assets in a competitive marketplace.
Why do I have to fill out a Buyer’s Worksheet?
- Some of Sellers insist on confirming that any prospective Buyer / Investor has funds necessary to purchase the business. They will allow sharing the business name and information only after a Prospective Buyer / Investor has completed and shared a Buyer’s Worksheet.
Although you will receive private information, often documents like tax returns and leases are only shared with Buyers / Investors as part of Due Diligence after an offer is made and accepted. Make sure when you make an offer that you have the ability to get back any down payment if the business fails to satisfy Due Diligence requirements.
Some Business Owners do not always have detailed records. Some listings will say Owner To Prove or Owner Estimate. Carefully assess the records you receive.
Thank you for taking the time to contact us and for giving us the opportunity to help. We enjoy helping people get the right business and look forward to helping you pursue your business dreams. If you are in the Tampa Bay area, please visit our office. We’d love to meet with you in person.
Brian Stephens, MBA, CBI