Buying A Business
  • How do I find the right Business for me?
  • What are the steps to the Buying Process?
  • How do I value the Business Opportunity?
  • How much money do I need?
  • Do you assist me in working with lenders?
  • Do I need Industry Experience?


At Santa Cruz Business Brokers we strongly recommended that you deeply analyze your reasoning for the pursuit of purchasing a business. To ensure a sound fiscal investment and rewarding experience your decision should not solely be based on passion, but on your experience and financial capabilities. Print and review Buyer Profile Form

 
Are you considering buying a business?

Santa Cruz Business Brokers professional advisors can assist you in finding the right business. We manage the entire buying process to ensure a successful transaction. To assist you in finding the best business opportunity we want to know your background, work experience, hobbies, current and former business holdings and your geographic preferences. We will then provide you with business opportunities that fit your needs. Our experienced brokers will help you sort through the complex information involved in the business buying process. We are committed to successful win- win transactions.
 

Steps to Buying a Business through Santa Cruz Business Brokers:

1. Upon your initial inquiry regarding a business, Santa Cruz Business Brokers will email or fax you a Confidentiality and Non Disclosure Agreement, to be completed and returned.

2. A Santa Cruz Business Broker agent will then contact you via phone or email to present you an overview of business opportunities and related basic financial performance.

3. Once interested in the business, an appointment is scheduled at our office. We maintain comprehensive files on each listing, which include copies of leases, financial statements, tax returns, asset list, and a wide variety of other data pertinent to that business or restaurant.

4. A personal visit and inspection of the selected business is then scheduled. The availability of the seller to meet with you in answering detailed questions is set aside if you so choose.

5. Once satisfied, your offer is written on a California Association Real Estate Business Purchase Agreement document (9 pages). It includes contingencies for your protection which may include:

  • Financial due diligence and verification*
  • Transferring of existing lease or negotiating a new lease
  • Financing or loan if required
  • Inspection of fixtures and equipment
  • Transfer of alcohol license if applicable


*It is strongly recommended by Santa Cruz Business Brokers that you retain a professional CPA and/or attorney to protect your interest during due diligence.

6. You will be required to submit the following upon making an offer:

  • Earnest money - usually $10,000 to $25,000, based on price of business
  • A personal financial statement and business resume for the seller to review

7. Carmel Business Sales presents the offer to the seller who accepts, rejects, or counter offers.

8. Once the transaction is ratified the due diligence period begins.

9. Upon landlord approval and due diligence period satisfied - All Contingencies are then removed. The escrow attorney then begins the bulk sale process, fictitious business name filing and tax clearances.

10. The balance of funds is deposited into escrow. Closing documents are reviewed by buyer and seller.Finaldocuments are signed, final monies are dispersed, and the buyer is given the keys!

 



Testimonials

""I first met Mike Russell and his team several years ago when I moved to the US from the UK. I was looking to buy a business that would fit the specific criteria of my E2 Visa. Although Carmel Business Sales didn?t have any suitable listings for me at that time, I was impressed with the professional and considerate manner in how I was treated as a potential buyer. I eventually bought a small Cafe in Capitola, which I successfully remodeled and managed for several years. When I was ready to move on and explore new opportunities, Mike Russell was the first person I called. I knew from first hand personal experience as a previous buyer, that I wanted my business to be listed, marketed and sold by Mike and his team. I already knew what it was like to be treated as a buyer and thus felt every confidence in Mike?s abilities to handle the sale of my business. What I love about Mike is his all around in-depth knowledge of all business operations, from tiny hole in the wall mom and pop joints, to larger corporations. His extensive knowledge of all the challenges we unique group of business owners face comes from his experience as a business owner himself and of course many years of experience through the changing economic times we all face. I truly cannot thank Mike enough for the way he and his equally experienced support team specifically handled the sale of my business. He and his team took care of every single detail and he personally handled all the tricky negotiations between myself, the buyer and the landlord. He organized all the escrow arrangements and would often be working late into the night, making phone calls to both myself and the buyer to keep us informed and updated on the progress of the sale. I could not have sold my business without Mike?s help, that is certain. He was the key player in this deal by keeping all parties moving in the right direction. I wholeheartedly recommend Mike and his team whether you are selling or buying a business". Tina Davey-Lee"
Tina-Davey Lee
Cafe Violetta