Services
Basic Due Diligence, get a Second Opinion
on Buying A Business or Franchise
SITUATION:
A Business Buyer is interested in a specific business. He
has seen the business, met with the Seller, collected
financials and other available information. Now he or she
would like to get a second opinion, before spending more
time on this business. Sometimes an offer has been made and
accepted; other times no offer has been made.
ACTION TO BE TAKEN: Business Buyers need to collect financials, tax returns, business description, equipment list and anything he can from the Seller. The Buyer then mails, faxes or e-mails all documents he has received to Business Buyer Services: Attn: Valuation Section. The staff collects the documents and organizes them. The package is routed to the Consultant. The Consultant reviews all the documents and clients notes. The Consultant calls the Buyer and they discuss the business.
The Consultant raises questions based on the information provided. The Consultant will suggest further research on the business that the Buyer should consider doing. The Buyer can then request the further information. Because of what was gone over in the conversation, the client will already know what to do with the information, when it is provided. The Buyer asks any and all the questions he has. The Consultant will suggest contingency clauses to put into the offer. The Consultant will suggest how to force the Seller to pay for due diligence cost, if there turns out to be a misrepresentation, of information, by the Seller.
The Consultant will offer an opinion to the Buyer as to the desirability of this business. The opinion, of the Consultant will include the benefits and some of the risks of going into this industry or business. The Consultant will also render an estimate as to its value, based on the data provided. The conversation will end only when the Buyer is satisfied that he learned what he wanted to know.
ACTION TO BE TAKEN: Business Buyers need to collect financials, tax returns, business description, equipment list and anything he can from the Seller. The Buyer then mails, faxes or e-mails all documents he has received to Business Buyer Services: Attn: Valuation Section. The staff collects the documents and organizes them. The package is routed to the Consultant. The Consultant reviews all the documents and clients notes. The Consultant calls the Buyer and they discuss the business.
The Consultant raises questions based on the information provided. The Consultant will suggest further research on the business that the Buyer should consider doing. The Buyer can then request the further information. Because of what was gone over in the conversation, the client will already know what to do with the information, when it is provided. The Buyer asks any and all the questions he has. The Consultant will suggest contingency clauses to put into the offer. The Consultant will suggest how to force the Seller to pay for due diligence cost, if there turns out to be a misrepresentation, of information, by the Seller.
The Consultant will offer an opinion to the Buyer as to the desirability of this business. The opinion, of the Consultant will include the benefits and some of the risks of going into this industry or business. The Consultant will also render an estimate as to its value, based on the data provided. The conversation will end only when the Buyer is satisfied that he learned what he wanted to know.
