Southern Business Advisors works

with experienced buyers who may

be looking for new opportunities as

well as first time buyers who are

ready to purchses their own business. 

The following tips may be helpful in 

your search for a business. 

1. Take a good look at your personal financial position.
2. Examine your personal and family risk-reward quotient.
3. Do you feel that your emotional maturity is such that you can handle decisions?
4. How long have you been thinking of owning a business of your own?
5. Do you have 100% support from family in the endeavor?
6. What skills, experience, certification (if applicable), can you bring to the Business.
7. Are you willing to put in the hours to make a success of the venture?
8. Do you have access to support professionals to guide you in the search process and after the closing?
9. Are you sufficiently committed to the concept of putting your hard-earned assets on the line, including personal guarantees?

If you have answered affirmatively to the foregoing, you are probably an EXCELLENT candidate to be in business for yourself. Now that you are prepared mentally, physically, and financially to purchase a business; you are ready for Southern Business Advisors to assist in your business acquisition.

CHOOSING A BROKER

 

The selection process in picking a broker/intermediary is much like selecting a physician or other professional. You need and deserve a broker who is going to work for you to find that perfect match. 

Pick a broker who deals in the size business or industry you are interested in pursuing. Remember that some brokers only handle larger mergers and acquisitions, other are "General Brokers" who represent a wide range; from small to medium priced offerings. That is what we do at Southern Business Advisors. When calling to schedule your first appointment, be honest and up-front regarding your background, investment capabilities, (liquidity and net worth), timetable, and the parties who would be involved in the decision making process, general geographic boundaries desired for business location, and industry sought (if you have a specific industry identified). For your information, broker surveys tell us that 90% of first time purchasers either do not know what they wish to buy or, end up purchasing something entirely different than their initial selection.

After meeting with Southern Business Advisors, determine if you are able to communicate comfortably with one another; does the broker understand your needs and desires. Also, does he /she work with buyers and sellers in your investment range, can you place your confidence in this particular individual and the firm with whom he/she is associated.

Inquire about the Broker's years of experience, certifications, membership in trade associations, access to sources of finance, legal, accounting, or other support referrals. Southern Business Advisors, in addition to handling the sale of business assets, also are licensed to negotiate leases and sales of real estate as well.

Do not be surprised if we ask you to sign a confidentiality and warranty agreement prior to divulging any information concerning businesses he/she has listed. This is a requirement of most sellers and additionally spells out the relationship of the parties, and who is responsible for the Broker's fees.

You have the right as a potential purchaser, to receive information regarding specific businesses that a broker (as seller's agent) believes you have the skills and financial ability to consummate. The question arises when buying businesses or real estate, "Why not buy directly from an owner?" First the obvious answer is the owner has, in most cases, only the one "property" to sell, is usually biased as to true worth, will be gone after the closing, has no credentials or licensure at risk, and generally "botches" the deal to the detriment of the purchaser. Southern Business Advisors are required to abide by a strict code of ethics, and take continuing educational courses leading to certification. 

*If you cherish the idea of being your own boss and having better control of your own destiny, consider purchasing a business through Southern Business Advisors.”