After a buyer inquires about a business, has signed a non-disclosure agreement, and decides they are officially interested in learning more about the company, their broker will request a meeting with them to take the first steps towards getting to know the business for sale better.
The first meeting takes place between the broker and the buyer - the seller does not join the conversation until the second meeting and tour of the company. During this initial meeting, the buyer and their business broker will review the main details of the business. It is at this time that the buyer will get their first access to the financials of the business for sale through a financial recast. The recast highlights key metrics of the business’s financial status such as the seller’s discretionary earnings, and gross revenue.
The first meeting is an opportunity for the broker to answer high level questions the buyer will have about the business. These questions can cover topics such as growth projections, historical performance, company structure, and market placement. If after gaining a better understanding of the business for sale, the buyer is still ready to move forward, their broker will setup a second meeting to include the seller and a tour of their company.
For more information on how Transworld - Rocky Mountain can support you with the purchase of a business, please visit our website or schedule a free consultation with one of our brokers today!
Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A long time resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master’s Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.