Business brokers prefer to talk to people in person, and the buyer is no exception. During a preliminary meeting the broker will typically ask the prospective buyer questions such as these:

• Do you have the necessary funds to buy a business
• Is the cash readily available?
• What is your time-frame for buying a business?
• What are your expectations about the purchase of a business?

After this fact-finding discussion, the broker can then show the buyer businesses that are both feasible and that fit the buyer's requirements. Further steps the broker will lead the buyer through are as follows:

• Since sellers are (rightly) concerned about confidentiality, the broker will ask the prospective buyer to sign a non-disclosure agreement.
• The broker will provide the prospective buyer with preliminary information about one or more businesses, including pertinent financial data.
• Once the buyer has indicated strong interest in a particular business, the broker can then supply additional information and schedule further on-site appointments.

When the buyer is ready, the business broker will be the best source for answering questions, addressing concerns, resolving loose ends, and offering a business broker's unique expertise in the business sale transaction.

How do I get detail information on a business I am interested in  buying ?

We are obligated to keep information about the business for sale confidential.  The Seller wants to make sure the employees, customers and vendors are not made aware of a potential sale.  This in itself could be harmful to the business and would not be in the Sellers or Buyers best interest.  Therefore, we require buyers complete our Non-Disclosure agreement before we can provide detail information.  Once this document is complete and you are qualified, we will provide you detail information via phone, fax or email based on your preference.

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Do I need to Sign a non-disclosure agreement before I can get details on a business?

The simple answer is YES.  We are obligated to keep information about the business for sale confidential.  The Seller wants to make sure the employees, customers and vendors are not made aware of a potential sale.  This in itself could be harmful to the business and would not be in the Sellers or Buyers best interest.  Therefore, we require buyers complete our Non-Disclosure agreement before we can provide detail information.  Once this document is complete and you are qualified, we will provide you detail information via phone, fax or email based on your preference.

Must I Complete the Financial Section of the non-disclosure agreement?

We have committed to our Seller's that we will not show the business to someone who cannot afford to buy it.  Therefore, you will need to provide us information to accommodate this requirement.  We will not proceed until we have satisfied this requirement.

Can you help me understand my financial options?

Charlotte Business Brokers is not a lender, but we work with several lending sources to help find the financing you need.  We can help with traditional bank loans, SBA (Small Business Administration) loans and mezzanine financing.

What is needed when getting financing? Buyers need to put something into the deal  anywhere from 10-30%, they must have good credit, and they should have some type of experience either in the industry they are buying, management experience, or small business ownership in their history. There are a range of factors that are looked at overall to see if the buyer is loan worthy. 

Factors that are considered overall are: Does the buyer have partial or full collateral for the loan, do they have other forms of income that may be coming in, what do the future financial projections look like for the business, is their sufficient cash flow to cover the debt service payments, - these are all elements that are looked at and weighed.

The buyer also has to fill out a personal financial statement and provide tax returns for at least 3 years, and sign a release for a credit check to be done.

Sellers will need to provide these items for consideration: at least 3 years of financials and tax returns, a client list, an accounts receivable/payable aging report, financial projections for 1 year, 3 years, and possible to 5 years out, equipment list with approximate market - liquidation values depending on the financial institution, and other items depending on the type and size of business.

iated with the business ?

Can you Help me buy the Real Estate that is part of a business transaction?

Yes we can.  All of our Business Brokers are also Commercial Real Estate Brokers.  We can help you with all phases of the acquisition.