Many potential business buyers spend a lot of time looking, studying, and analyzing; but to actually purchase a business, you must get your terms down on paper get your offer in front of the seller.
We do not advocate making offers casually or recklessly, but we know that the first step in buying a business is getting an offer in front of the seller. You don’t want to miss a great opportunity because you were deliberating while another buyer was making an offer.
Making an offer gets the buying process started – it’s really the only way you can gauge what is important to a seller and what a seller is just hoping for. Until an offer is made, you are not discussing terms or negotiating deal points, you’re just talking and posturing.
An offer also immediately separates you from the lookers, “tire-kickers”, and the merely curious who inquire about the business.
To buy a business you must make offers – some will be rejected outright, some will be the start of discussions that ultimately lead nowhere, but one will be the first step on your path to business ownership.