Buying an established business has significant advantages over a start-up. Some of the many reasons that buyers chose to purchase an established business include:

• Return on investment within the first years.
• Immediate cash flow.
• Trained employees.
• Established credit history and relationships with vendors.
• Established customer base and reputation.

Funding options can vary depending on the type of business.

Many buyers pay cash for the business they are purchasing. When cash is not available, there are funding options available and can vary depending on the type of business. These can include traditional bank loans, SBA loans, home equity line of credit (HELOC), cashing out a retirement account, borrowing from family/friends and seller financing.

Priscilla will guide you through the necessary steps to get pre-qualified for financing. Through her trusted network of lenders, she can connect you with the right resource to get the funding you need.

The sale of an on-going business is confidential for both the seller and the prospective buyer. To ensure confidentiality for all parties, a Non-Disclosure Agreement (NDA) is required to be signed.

1. The first step is to set up an initial consultation with Priscilla to understand your criteria, budget, financing and timeline for purchasing your new business. 
2. After understanding your needs and goals, Priscilla will begin searching for profitable businesses that meet your criteria and present those to you.
3. Once you have found the business that fits your criteria, it is time to make an offer to purchase. It is important to remember that this stage may involve some negotiations to ensure that both parties reach a mutual agreement. 
4. Your written offer will contain contingencies to ensure that you are able to verify the information about the business, as provided by the business owner, is correct and accurate. Due diligence is, in almost all sales, a condition of the buyer’s offer. 
5. After the due diligence is complete, the contingencies are removed, escrow will be opened and Priscilla will guide you in applying for all the necessary licenses, permits, financing, lease assignments and perform any inspections or items required prior closing the actual purchase transaction.
6. Priscilla will guide you through and arrange the final details to close the sale which includes final signatures on all closing papers, final inventory counts, walkthrough and final transfer of business to you, the new buyer.

The deal is subject to certain contingencies when making an offer.

The most important one is due diligence. As a buyer, you will have the opportunity to conduct your own due diligence which should cover several aspects of the prospective business including financial documents, legal issues, operations, employee relations, assets, products and customer data.