What is involved in the process of buying a business?
A business sale is a highly confidential manner. One that can often seem complicated, but our systemized process is designed to simplify the process and protect the buyer and seller during the transaction. Our buying process involves ten steps which you can learn more about by downloading our Ebook.
Should I hire an attorney or an accountant?
We strongly recommend that you involve an attorney and accountant in the acquisition (or sale) of a business. Although some transactions are completed without them, buying a business can present complications best handled by professionals. As with any big decision, it is prudent to surround yourself with a team of qualified advisors. If needed, we have a number of professionals located in the Denver Metro area that we can refer you.
How do I know what businesses are available for sale?
How much does it cost to buy a business?
Every situation is different thus each asking price is different. In general, Transworld obtains their fee from the seller. However, outside of the purchase price, there can be additional costs including legal, accounting, and transition expenses.
How much money do I need to buy a business?
Businesses vary greatly in price. You can see a list of our available businesses for sale in Colorado here which will provide a frame of reference for price. Currently the businesses we represent for sale range from $25,000 – $10 million. Often you will need a down payment of 20% – 50% to purchase a business.
Do I have to pay the entire purchase price up front?
There are many options for financing the purchase of a business. While some sellers still require a 100% down payment, seller financing is becoming a great (and popular) option for financing a business purchase. Additionally, some buyers and businesses may qualify for SBA loans, conventional loans, and 401K/IRA financing to help fund the purchase..
How do I know if the financial numbers presented are accurate?
Part of the acquisition process includes a period known as due diligence. During this time, the seller must present you with documentation to verify the financial numbers presented. You can read more about the due diligence period and our buying process within our Ebook.
How much training will I receive from the current owner?
Training is often included in the price of a business. Although training time periods range based on industry and the structure of each individual business, generally two – four weeks of training from the previous owner is offered.
I’m a citizen of another country. Can I purchase a business through the E-2 program?
The E-2 program can be very complex. However, we have a number of consultants that specialize in obtaining visas through this program.
Should you have any additional frequently asked questions about buying a company or business brokers, please don’t hesitate to contact Transworld Business Advisors. (Click Here)
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