Buying Process

The Buying Process at Global Business Exchange is:

a. Complete the Buyer Registration Packet
b. If financially qualified, receive the Business Summary
c. If the Summary is suitable to the Buyer, he/she will receive the financials and the appraisal.
d. A meeting or two is arranged with the Seller.
e. The Buyer makes an Offer to Purchase.
f. Global Business Exchange negotiates the terms of the offer with the Buyer and Seller
g. An agreement is reached, and a Purchase and Sale is executed.
h. Financing is arranged.
i. Buyer conducts Due Dilligence, a process of verifying the completeness and accuracy of the information about the business.
j. A closing takes place.

When making an offer, remember that a Seller will usually want at least two to three years' cash flow. Any less, and they can just keep the business for another year, and receive the same compensation. Also, a simple offer, with the least amount of conditions is likelier to be accepted then a complicated offer. Discuss any "hot points" that the Seller has with the GBE broker before you prepare the offer to purchase. He/she can give advice as to how to minimize any problems.