The Biz Sellers
An independent contractor of Horizon Brokerage 100 Old Plantation Way Baltimore, MD 21208
We’re Maryland Business Brokers Representing Buyers of Businesses and Franchises in Maryland, Virginia & Delaware
Business brokers typically represent the Seller in most sales, but at The Biz Sellers we also offer representation for Buyers as well. We think it’s important to work closely with Buyers to insure a seamless transition and will give you all the facts on the specific industry or business you wish to purchase. We have more info on registering as a Buyer below.
A Buyer must sign a confidentiality agreement before any information is given out on a particular business to maintain the critical element of confidentiality.
Step 2. Click here to complete the Buyer’s package (confidentiality agreement, profile and financial statement). Upon receipt of your registration documents, we will review and approve or contact you for additional information. Upon approval we will send an email sharing 100% of the information available on our listings.
With The Biz Sellers our main concern is to educate our Buyers in the process of purchasing a business. We walk you through the process step by step to make sure your goals are achieved. An important aspect of the purchase process is to help you understand the Sellers discretionary cash flow and EBITDA. We will assist you in understanding the amount of cash flow generated from the business, which will be available for you to draw as compensation, and to service any debt incurred during the acquisition. All financial information prepared is based on filed tax returns, which will be made available for a buyer’s review at the appropriate time during the process. We recommend that you have an accountant and a lawyer, as they are important to the process. We have relationships with accountants and lawyers that can assist you if you don’t already have representation.
Business Buyer Information
1. Meeting and Interview
We’d like to get to know you and your needs for purchasing a business by personally meeting with you. When we meet, please have a list of your goals, ideas about price range and locations ready to discuss.
2. Confidentiality Agreement
Each buyer is required to sign a confidentiality agreement to protect all parties concerned in the process. This is usually signed at the initial meeting. Click here for the buyer’s package (confidentiality agreement, profile and financial statement).
3. Identifying the Right Business
Once one or more businesses have been identified that may be of interest to you, we will further discuss the opportunities.
4. Showing the Business
Once you have identified what may be the best business opportunity for you, we further discuss the possibility by meeting the owner, and answering any financial and operational questions that you might have.
5. Offer or Letter of Intent
This stage is when an initial offer to buy the business is made. There may be some back and forth negotiations that take place until all the general terms of the purchase are agreed to by all of the parties concerned.
6. Due Diligence
This phase is the most important aspect of the purchase for the Buyer. You are asked to study the business in as much detail as possible in order to satisfy yourself and your advisers that the business is what you expected. This is the time where you obtain approval to take over a lease (re-assignment or re-negotiated) and get your bank loan approved (if necessary). If you are satisfied with your findings in due diligence, we may proceed to settlement.
The settlement is the final process in the business purchase phase. An attorney or attorneys for the buying and selling parties draw up and complete the documents necessary for finalizing the purchase. When all terms are agreed to and a lease is approved through the landlord of the property (if applicable), the business is transferred at a formal closing. We offer financing for your business purchase through our network of small business lenders. The Biz Sellers understand that Buyers want choices before making a very important decision to purchase a business. We offer those choices. Buying a business is a process that is time consuming and can be frustrating without a professional broker to guide you through it.
If you are unclear about something try our glossary of terms.
If you have any questions please contact us.