Business Buying Process
Identify the Right Business
Finding the right business starts with understanding you as a potential business owner—your strengths, weaknesses, experience, and vision. We take all of these factors into account to identify businesses that align with your profile and fit within your budget. Our goal is to ensure you’re matched with an opportunity that supports your future success.
Find the Perfect Opportunity
At National Industry Network, we’re always focused on uncovering new opportunities. Using a variety of methods, we locate business owners who are ready to sell their successful companies. In many cases, we help buyers discover off-market businesses that meet their criteria and work with the sellers to negotiate a sale.
Initial Inquiry
Once you’ve found a business that interests you and fits your profile, you’ll want detailed information on its operations and financials. We facilitate this by securing a Non-Disclosure Agreement (NDA) from the seller and making a formal request for the necessary financial documents.
Secure Financing
To move forward, you’ll need to show proof of funds or secure financing. We assist by helping you obtain a Proof of Funds letter to present to the seller. If you don’t have financing in place, we have a network of lenders ready to assist, depending on your qualifications. We also work with both buyers and sellers to negotiate potential owner financing, creating win-win scenarios.
Make an Offer
When you’re ready to proceed, we help you prepare and submit a formal written offer. This is the starting point for negotiations, where price, terms, and conditions are addressed. Our team works closely with both parties to ensure a smooth and fair negotiation process.
Due Diligence
If your offer is accepted, you’ll sign a Letter of Intent and enter the Due Diligence phase. This is where you, along with your accountant, attorney, and any relevant team members, verify that the business is as represented. It’s critical to identify any hidden risks or surprises before finalizing the deal.
Closing and Transfer of Ownership
Once the business passes your due diligence, we move toward closing. We’ll help secure a Purchase and Sales Agreement, which will be reviewed by your attorney. Our team ensures a seamless transition of ownership, so you can take control of your new business with confidence.