Some of the largest advantages of buying an existing business, versus starting a new business, include existing cash flow, established customer and vendor relationships, trained employees, brand awareness, and market-proven products and services.

Yes! As an entrepreneur, you may romanticize the idea of being your own boss. The question is, how do you get there? The first thought is often starting your own business. Although that has numerous advantages, starting from scratch understandably comes with challenges.

We will provide you access to thousands of business-for-sale opportunities, then they help you identify businesses that suit your monetary and lifestyle requirements, ones that should be appropriate for your business skills and experience. We will help you understand and navigate the complexities of the buying process, facilitating negotiations between you and the seller.

As part of the acquisition process, you will have to go through “due diligence.” During this period the seller is required to present documents to verify his profit numbers.

The information you will be required to provide in order to obtain detailed information on a business listed for sale will vary, it will depend on the size of the business, the complexity and competitiveness of the industry, the disposition of the seller, and other factors. Under any circumstance, safeguarding the confidentiality of the seller is absolutely essential. It is a responsibility that our business brokers take seriously. For this reason, each and every prospective buyer must provide the following items (at a minimum) before receiving additional information on a business that interests them:

- Personal Financial Statement: Your broker may require this document to determine business opportunities that suit your personal financial circumstances. This information will also be necessary to structure purchase offers and to seek financing when buying a business.

- Confidentiality and Non-Disclosure Agreement: These documents identify your responsibilities and obligations as a prospective buyer concerning any confidential information disclosed about a business listed for sale by us.

Businesses vary in price a great deal, however, it would be unlikely that one could buy a business with much less of a down payment than $50,000. SBA only requires a 10% equity injection.

Even though the SBA-qualifying standards are more flexible than other types of loans, lenders will generally ask for certain information before deciding to use an SBA loan program. Generally, lenders will need the following documentation to evaluate your loan request:

- Business Profile: A document describing the type of business, annual sales, number of employees, length of time in business, and ownership. Sunbelt Business Brokers will help collect this information.

Loan Request: A description of how loan funds will be used, which should include purpose, amount, and type of loan.

- Collateral: Description of collateral offered to secure the loan, including equity in the business, borrowed funds, and available cash.

- Business Financial Statements: Complete financial statements including income statements and balance sheets for the past three years and current interim financial statements. SBA will also require cash flow projections indicating how much cash an owner-operator can expect to generate to repay the loan, as well as accounts receivable and “payable aging” statements. Your Sunbelt Business Broker will request this information.

- Personal Financial Statements: Statements of owners, partners, officers, and stockholders owning 20% or more of the business. The strength and accuracy of your financial statements will be the primary basis for the lending decision. Be sure that yours are carefully prepared and up-to-date.

Source: Small Business Administration

Buying or selling a business can be a complicated venture. While some businesses are sold without the help of accountants and attorneys, we strongly recommend that both the buyer and seller engage professionals.

Depending on the complexities of the business, the former owner will offer varying levels of training. On most small businesses, the owner will offer training for two to four weeks at no cost to the new owner.

We are dedicated to providing you with superior service throughout the entire buying process. Our in-house process makes the transition from prospective business buyers to new business owners smooth and less complicated. At any given time, we have numerous business-for-sale listings throughout our network. Our brokers work with you to find the business that best matches your goals and financial needs, while also providing key benefits to you as a buyer:

Business brokers save you time and money. Business brokers keep the buying process moving.