ABA Service, Inc. A Rehn Company make your transition to owning a business as smooth as possible.
Download and View "Professional Business Intermediaries" Brochure to learn more.
Why Should I Work With a Business Intermediary?
A professional business intermediary can be helpful in many ways. They can provide you with a selection of different, and in many cases, unique businesses including many that you would not be able to find on your own. Ninety percent (90%) of buyers end up with a business completely different from the one they first inquired about.
Business Intermediaries are also an excellent source of information about small businesses and the business buying process. They are familiar with the market, can advise you about trends, pricing, and what is happening locally. Your business intermediary will handle all of the details of the business sale and provide contacts for other professionals, such as accountants, bankers, or attorneys. It is extremely important to work with advisor's that have business transaction experience.
What is a Buyer Agency Program?
Each buyer we work with has special needs and requirements for mergers and acquisitions. We will work out an agreement that is custom for you or your company. We do a confidential needs assessment to better match and track potential opportunities. We conduct custom searches by SIC, NAICS, revenues, and locations, which saves buyers time and money. Call or email for additional information and cost.
Why Should I Buy a Business Rather Than Start One?
An existing business has a track record. The failure rate in small business is largely in the startup phase. The existing business has demonstrated that there is a need for that product or service in a particular locale. Financial records are available along with other information on the business. Most sellers will stay to train a new owner, and most will also supply some financing. Finding someone willing to teach you the intricacies of running a business, and to finance the sale, can make all the difference.
The ABA Services twenty step buying process:
- Commitment. You commit to purchase a business at price and terms consistent with the marketplace.
- Disclosure. You sign an agreement promising to maintain confidentiality for all the information provided to you on the businesses we discuss.
- Background Information. You provide us with the information on our buyersregistration form along with your financial information. The more we know about you, the more likely we can find a business you will like. And, the more information we provide to the seller, the better the better terms the seller will consider.
- Review. You and an ABA Services, Inc. business intermediaries will review the businesses you are interested in and discuss the important factors of each. We can take you on virtual tours, show you assets and over-all feel for the business.
- Showing. Your ABA Services, Inc. business intermediary sets a showing appointment to the business you are interested in.
- Meeting. Likely among you, the seller and your ABA Services, Inc. business intermediary. This will give you the chance to ask detailed questions about the business.
- Letter of Intent/Offer to Purchase. Many buyers first draft a letter on intend to outline their interest and terms of the sale, most offers/letters of intent are contingent upon your inspection of the books and records of the business. The offer is not binding until you remove all contingencies.
- Present Offer. We present your offer to the seller.
- Background. We give the seller the buyer's background and financial information, the buyer's experience and point of view in arriving at the offering price, plus terms and conditions. Favorable background information about the buyer results in a more sympathetic consideration of the offer.
- Explanation. We carefully explain the terms and conditions of the offer to the seller and decision makers.
- Acceptance. The seller accepts the offer as it is written or writes a counter offer.
- Mutual Acceptance. When buyer and seller agree, in writing, to all the terms and conditions of the sale.
- Inspection. Buyer meets with the seller to examine the financial records of the business. Any questions you have are resolved.
- Contingency Removal. Buyer removes all contingencies in the agreement. It is now a binding agreement.
- Lease Assignment. Work with the landlord to get an assignment of the current lease or a new lease for the buyer.
- Escrow. Provide all necessary documents to the transferring agent so they can prepare the closing papers.
- Lien Search. Banks, Broker, Attorney may perform a lien search on the business to identify any secured creditors.
- Note and Lease Assumptions. Make arrangements to assign any notes or equipment leases.
- Inventory. Arrangements are made for the buyer and the seller to count and price the inventory (if required)
- Closing. All parties meet to sign documents.
ABA Services, Inc. recognizes that confidentiality for both buyer and seller is essential in the acquisition process. As part of the buyer registration process you will be required to send to us a completed confidentiality agreement to protect both yourself and potential sellers.
ABA Services, Inc. has established excellent business relationships with several banks, legal, and accounting firms. We recommend that you seek the advice and counsel of these professionals as you search for a new business (see business resources).
ABA Services, Inc. requires that all potential buyers register with us. This process not only protects the seller, but also allows us to serve you to the best of our ability. The business buyers registration process allows you access to the current business opportunities that ABA Services, Inc. has available.
Are you interested in becoming registered with ABA Services, Inc.? Click on this link, Buyer Registration to start the process.
If you have any questions or would like to learn more about our buyer services, please email us at sales@acqbiz or call us today at 262-746-9500.