If you are an individual looking to acquire your first business or an established company looking to increase your market presence or capabilities, the acquisition of a new business is a complicated and, in some cases a very time-consuming process.
For the individual, the following questions need to be addressed before you begin your business search:
- How do I know the size of business I can afford?
- What market segment or segments am I interested in?
- What business location am I willing to consider?
- How much income (salary) must I have from my new company?
- How much personal capital can I afford to invest in the acquisition of the business?
- Will the business I select have sufficient income to cover my personal requirements, the debt service and business operating expenses?
Once these questions are answered your search for a new business can begin. An individual will be faced with a myriad of hurdles to be overcome:
- Finding a suitable business from a multitude of businesses for sale.
- Interfacing with the seller and receiving all the pertinent information required to determine the viability of the business.
- Valuing the business to determine it’s worth to you.
- Preparing the Letter of Intent to purchase.
- Negotiating a fair and reasonable purchase price.
- Ensuring all sale prerequisites and requirements are included in the contract of sale.
- Ensuring that banking and financing commitments are in place.
- Selecting the proper attorney and accountant to represent you.
Wiley & Associates, Inc. provides guidance and solutions to all these questions and requirements With over twenty years of experience, we have represented many buyers and helped them find the right business and guide and assist them through the maze of the business acquisition process.
For the businesses looking to expand through acquisition, which in many cases, is more economical and timely than growing organically, Wiley & Associates offers the research and search capability to target the precise business, whether for sale or not, that will enhance the growth of your existing business platform.
Whether to increase market share or expand technical capability, Wiley & Associates will assist the client through the whole acquisition process from finding the right company, ensuring it will fit within the current company culture, that it’s a viable and reputable company, assist through the banking and contractual phase and assist in the negotiation and closing.
We look forward to speaking with you to review our capabilities and how we can assist you.