Do you want to buy a business in Columbia or Central Missouri? We’d sure love to help you through the process! You won’t find a Business Advisor with more connections, experience, and credibility in this area. However, buying a business is a little more complicated than you may realize.
Here’s a detailed step-by-step process if you think you might want to buy a business in this area.
Call LGI Business Advisors (573.875.2773)
- You should arrange for a confidential appointment with Jeff Guinn, a knowledgeable, professional, and experienced Certified Business Broker and Advisor.
Provide Background Information
- At the initial meting, bring personal information about your background. This includes your financial resources and funds available for investment.
Sign Non-Disclosure Statement
- You’ll sign an agreement not to disclose confidential information that may be provided to you by your advisor.
- We’ll make an appointment for you to tour the business you are interested in buying. And you may also talk with the owner(s).
- LGI Business Advisors will prepare the necessary papers for your purchase offer. Of course, we’ll assist you with insight and advice on any contingencies you may desire.
Presenting the Offer
- We’ll present your offer to the seller, and provide your background information to the seller.
- The seller will accept, reject, or make a counter offer to you, the buyer.
- When you’ve reached a deal, you and the seller must agree to all terms and conditions of the offer in writing.
- Your earnest money will be deposited in the escrow account of the title company.
- As the buyer, you may inspect the financial records of the business as outlined in the Asset Purchase Agreement (APA).
- Merchandise inventory (if any) is taken by the buyer and seller (or inventory company), and then the amount of inventory is determined.
- Broker, Buyer, and seller sign the closing documents at the title company’s office.
Congratulation! You have now bought a business!