For buyers
The best opportunities don't wait for you to get ready.
Finding the right business can take months — sometimes years. And then suddenly the opportunity you have been waiting for appears. When it does, being prepared is the difference between acquiring an exceptional business and watching someone else buy it.
There is nothing more frustrating than finding a company that seems like the perfect fit, only to lose it because financing wasn't lined up, your financial information wasn't prepared, or you didn't have the right professionals available to move quickly.
Become a buyer sellers want to work with
In an attractive acquisition you may not be the only interested buyer. Sellers and their M&A advisors aren't simply evaluating the highest offer — they are evaluating the buyer behind it.
- Is the buyer financially qualified?
- Can they obtain financing?
- Do they understand the acquisition process?
- Can they move quickly?
- Do they have experienced advisors?
And perhaps most importantly: is this buyer likely to actually close?
On a recent listing, more than sixty buyers signed an NDA within two weeks and six letters of intent came in at or above an aggressive asking price. Many disappointed buyers were willing to pay that price. They weren't considered — because they couldn't act.
Get buyer-ready
Prepare before the opportunity arrives
These are the items sellers, M&A advisors and lenders commonly want to see early in the acquisition process. None of them require having found a business yet.
-
Create your buyer bio
A good bio introduces you to a seller and explains why you may be the right person to acquire their company — professional experience, management background, industry knowledge, accomplishments and your reasons for pursuing an acquisition. Remember: you are evaluating the business, but the seller is also evaluating you.
-
Prepare your personal financial statement
Serious opportunities generally require buyers to demonstrate financial capacity. Preparing a PFS in advance lets you respond immediately when qualification is requested, and gives lenders an early understanding of your position.
-
Establish lending relationships early
Don't wait until you've signed an LOI to work out who might finance the acquisition. Starting early lets you understand how much you can realistically finance, learn what lenders expect, compare structures, shop rates and terms, understand equity requirements — and potentially obtain a pre-qualification.
-
Have an experienced M&A attorney ready
Business acquisitions differ from other legal transactions. An attorney who understands letters of intent, asset and stock purchase agreements, representations and warranties, due diligence and restrictive covenants lets you move in days rather than weeks. A properly structured LOI also establishes the major business terms early and reduces renegotiation later.
-
Build your acquisition team before you need it
M&A advisor · accountant or CPA · M&A attorney · commercial or SBA lender · wealth advisor · insurance professional · industry specialists. You don't need every professional on day one. You should, however, know who you're going to call when you need them — and we can make those introductions.
Two minutes
How ready are you, really?
The buyer readiness check scores the eight items that actually get looked at, then tells you which gap to close first and why it matters.
You may look at ten businesses before finding the one you want to own. Or the right opportunity may appear tomorrow. Either way, preparation gives you options.
Frequently asked
Questions buyers ask
What do I need before I start looking?
A buyer bio, a personal financial statement, a lending relationship — ideally with a pre-qualification — and an M&A attorney identified. Those four are what separate the buyers who get considered from the ones who do not.
Do you charge buyers a fee?
Introductions to the professional network cost nothing. Where a buyer wants hands-on preparation or search support, the scope and fee are agreed in writing first.
Why do I have to sign an NDA to see details?
Because the seller's employees, customers and competitors do not know the business is for sale, and a leak can damage the company you are trying to buy.
Go deeper
Reading for buyers
Why Prepared Buyers Win Deals
On an attractive listing you will not be the only interested buyer. Sellers are evaluating the buyer behind the offer a…
ProcessWhat a Letter of Intent Really Does
A properly structured LOI establishes the major business terms up front and reduces the negotiation that would otherwis…
ProcessHow a Business Sale Actually Runs
Nine to fifteen months from decision to closing is normal, and the preparation phase is the longest part. Here is what…
Find the right opportunity. Be prepared. Move with confidence.
You don't need to have identified a business to begin preparing. Tell us what you're looking for and we'll help you put the pieces in place so you can act when the right one appears.