FINDING A BUSINESS

You can begin your search for a suitable business by browsing our featured business listings or using our search businesses link. Through the search businesses link, you will be directed to a database of all listed businesses for sale through out Florida. Be sure to think about what type of income you require to support your lifestyle and then search. Remember, you mostly "pay for what you get" and a smaller business will not support a larger family. Once you have found the businesses of interest, let us know which they are, by listing number, and we will send you a disclosure to sign. This disclosure will ensure the sellers that you are serious and will bind you to not discussing your findings with others. This is a private sale and many times a seller will be cautious of having his/her employees know?

DETERMINING A BUSINESS

Once you have had time to look at specific businesses and their listing information, we suggest that you select your top 3 choices to meet with. More times than not, a buyer will want to meet with a seller to discuss the business in question. This is a good time for you to understand the workings of the business, thus, you should be prepared with questions and concerns. Once you have spent an hour discussing many topics, you will find it hard to remember their answers? Make notes!

MAKING AN OFFER

Now that you have made a decision as to which business you like, we are in a position to make an offer. This would be a written offer where you would sign a contract and we would present it to the seller. At this time, the buyer will be required to place a deposit in escrow as good faith. We recommend your deposit be held with an escrow agent/title company or attorney rather than a real estate brokerage. Be prepared that the seller may counter offer! If and when both buyer and seller have signed and agreed, we are in contract and bound. This is now the most critical time as the buyer has 15 days to perform due diligence.

DUE DILLIGENCE

Now that we are in contract, the buyer has a right to request any and all information he and his accountant need in order to be sure that the business is what it says it is? From licenses, pay roll to financial's, we will ask for it all. Throughout this period, you can ask for more information, however, once the due diligence period is over, you are committed. When a seller/company provides it's financial's, due diligence allows for up to a 5% discrepancy. Once over that, the buyer shall choose whether to withdraw or renegotiate a purchase price?

CLOSING

At closing, both the buyer and seller shall meet to sign and have notarized the closing documents.These papers will have any and all documents needed to record the sale and ensure legallity of said purchase. For protection to the buyer, the closing agent shall provide a record of any debts outstanding on and through said business and if such debts are found, the closing agent should withhold the amounts owed and make final payments on behalf of the seller.Each party shall be given a copy of said documents to leave with. This shall also include any relative documentation required for the buyers to run the business and apply for licenses. Finally, if required and dependant on the type of business, any monies that the seller may have in escrow will be handed over to the buyer/new owner at closing.It will also be at this point that the seller will begin their training period with the buyer. We suggest a schedule be agreed whilst at closing so that all parties know their commitments and an easy transition can begin.Good Luck and remember, just because you have closed on the transaction, our offices and staff are always available.

LICENSING

You will need to be sure that you fully understand the state laws and guidelines for the particular business you buy. In every business you will be required to have city and or county and state licenses for your new venture and upon closing, a seller should guide you with this. An occupational license will be obtained from the respective city or county office that you wish to trade in. If you should work in several counties, then you should have licenses for each. Visit www.stateofflorida.com to find out more.