Buying a Business
Buying a business is a major decision. It will not only affect you financially, but more importantly, it is a lifestyle decision. How you live your life is shaped and influenced by what you do for a living. If you have decided that now may be a good time to go into business for yourself, working with a business broker can provide you with the professional assistance necessary for a smooth and successful transaction.
Buying an existing business can often make more sense than starting a business because:
- According to Statistics Canada, many start-up businesses don’t make it past their first year, and more than 50% fail within the first 5 years. Purchasing an established business can be cheaper, faster and safer.
- You have profits from day one and access to immediate cash flow.
- A proven track record and existing cash flow make it easier to get additional financing.
- You are purchasing an established customer base and goodwill.
- Operations are already in place including products, suppliers, and employees.
- You will receive training from the previous owner to ensure a successful transition.
Buying an existing business can often make more sense than starting a business. We can help you find the right business.
Contact Beal Business Brokers & Advisors for a free initial consultation.
The Buying Process – Confidentiality
Confidentiality is key to both buyers and sellers of businesses. Business owners typically do not want a big “FOR SALE” sign on their front lawn — it’s bad for business — clients, employees, and suppliers all get nervous. The best businesses to buy are the ones where the owner is careful about who knows it’s for sale.
To this end, we require all buyers to complete a buyer information form and sign a confidentiality agreement before receiving further information on any of our businesses. You will receive this form as you inquire about any of our businesses. The advantage of providing your information as a buyer is that we will be better able to assist you, by providing the following:
- Regular updates on new businesses for sale
- Access to additional information on a business
- Regular emails when a business for sale matches your criteria (that you’ve entered on a registration form).
Take a look at our existing opportunities here.
The business we have listed for sale have engaged us to sell their business. This is the bulk of what we do on the brokerage side. However, we also work on behalf of buyers, representing their interests in a transaction in one of two situations:
- They have found a business for sale (not represented by us) and need our assistance to put together the deal, assist with financing, or valuation.
- They ask us to find them the ideal seller through our creative, pro-active search process.
In either situation, Beal Business Brokers & Advisors can help you reduce your buying risk by representing you in your acquisition process using the following proven steps:
- Search: We help you find the right business.
- Screening: We help you focus on the best businesses.
- Valuation and Negotiation: Once you find the right business we can help you understand the true business value and detect financial and nonfinancial factors that impact that value.
- Due Diligence, Financing and Agreement Structuring: Beal Business Brokers & Advisors can help you through the process of due diligence and financing as well as advise on key elements of a purchase agreement on price, terms and conditions so the deal will close.
You may only buy a business once in your life – Make sure you do it right – It’s your money on the line!
Contact us for a free initial consultation.
Buying a Franchise
How you go about your small business idea will determine how much stress you’ll be under, how long before you’ll be able to take a salary, and so on. Starting a business from scratch comes with many costs, legal issues, growing pains, and a lot of stress. Buying an existing business eliminates a lot of those troubles, and purchasing a franchise eliminates start-up woes even further, with preestablished policies and practices, as well as potential financial backing, supplies, and more.
Take a look at our list of existing franchise opportunities in and around Winnipeg.