If you are looking to buy a business, make sure you talk to our consultants before you finalize the deal.
The Duquesne University SBDC can help you do due diligence, which includes business valuation and financial overview. We can also help you decide the right funding option whether it be seller financing, business loan, or owner investment.
We will make sure that you negotiate the terms and draft the best sales agreement before you sign.
You can click here to apply for free consulting from our expert consultants.
Yes, you will need a business plan and three-year month-to-month cash flow projections to buy an existing business.
There are many documents that you should receive from the business you buy before you make the purchase. These include 3 years of business tax returns, three years of business financial documents (e.g. balance sheet, profit/loss, budgets), tax identification number (TIN), and more.
You should be able to supply 3 years of tax returns, 3 years of W-2s if you have been previously employed, a personal financial statement, a detailed credit report (no more than 4 months old), and more.
Yes, the terms and financing of your purchase are the key parts of your business acquisition, and there are many options for both. Optimizing these parts of the deal will be important for your business’s success.