Process for Buying a Business
C. G. Reicher Associates provides a step-by-step approach for the acquisition of a business. While every acquisition process is unique, here is an overview:
- Understanding the buyer’s objectives and buyer requisites.
- Completion of an individual or corporate financial statement and a Buyer’s Personal Profile
- Develop search methodology with
buyer, targeting segments of the industry or specific companies as desired.
- If desired, actively search for potential target companies.
Reviewing Potential Businesses
- Completion of Buyer’s Confidentiality and Warranty Agreement.
- Secure and present Confidential Memorandum or marketing packages from a selected business(es) for buyer review.
- Pre-qualify buyer for appropriate financing.
- Meet business owner and tour site.
- Facilitate the negotiation process.
- Assist buyer in preparing the Letter of Intent.
- Facilitate the fine-tuning of the Letter of Intent between buyer and seller.
- Connect buyer with
attorney: create Purchase Agreement
- Buyer arranges
- Facilitate final negotiations on Purchase Agreement between buyer and seller
- Execution of Purchase Agreement
- Buyer completes Due Diligence and all outstanding issues.
- Buyer financing is finalized
- Set closing date.
- Review closing documents.
- Sign Definitive Agreement (and corollary documents) necessary for closing.
- Complete post-closing details between seller and buyer as needed.