Choosing to buy a business is a major decision and one that will affect both your financial and lifestyle situation. With a long history in the industry of helping people buy businesses, Integra has identified several frequently asked questions. The questions and answers below are aimed to help you in realizing a business you desire and understanding the business purchase process. If you have any questions about buying a business, please feel free to contact us.

Why should I buy an existing business?

It may take more money than time to buy a business. It takes more time than money to start one. The break-even point for buying a business versus starting a business is the cost to buy equipment, rent a space, pay a staff, pay for advertising, establish contractual relationships and support yourself while you are building up a customer base.

If you buy an established business, you have an income from the day you take over. You already know what can be accomplished by the business. If you start a business, you face a lot of uncertainty over the success and desirability of your product or service. Buying a business takes a lot of the risk out of your decision.

What should I be looking for in a business?
A buyer should only consider a business he or she will feel comfortable owning and operating. The time and effort which will be required is an important consideration as is how much the buyer can afford to pay for the business. The amount of cash the buyer hopes or needs to regularly take out of the business is very important, especially if the business is to be the buyer’s only source of income. Because many experts believe you should not purchase a business unless you can make it better, it is helpful if a buyer has some definite ideas on how to improve the purchased business.

Why is confidentiality so important to the seller?
Typically, confidentiality is very important to a seller. It can be damaging to a business if it is known that it is for sale. Customers may not be interested in buying from a business that is up for sale, competitors could use the information to their advantage, and employees generally experience anxiety and often leave.

Why should I use an Integra business broker?

Integra business brokers are dedicated to providing you with superior service throughout the entire buying process. Integra’s in-house process makes the transition from prospective business buyer to new business owner smooth and less complicated.  We will work with you to find the business that best fit your goals and financial requirements, while also providing key benefits to you as a buyer:

  • Business brokers save you time and money.
  • Integra protects your confidentiality when you buy a business.
  • Business brokers keep the buying process moving.
  • Integra has more business for sale listings than any other network.
  • Integra has several alliances with SBA, commercial and conventional lenders and can facilitate acquisition and working capital loans for buyers purchasing a business.

A detailed explanation of how a Integra will benefit you during the selling process can be found here.

How can Integra assist me in locating and purchasing a business?

Integra will supply you with access to a large number of businesses for sale and then help you target the businesses that suit your financial and lifestyle requirements and most fitting for your business skills and experience. We also help you understand and navigate what could otherwise be a complicated buying process, and facilitate negotiations between you and the seller.

What information must I supply to learn more about a certain business?

The information you will be required to provide in order to obtain detailed information on a business listed for sale will depend on the size of the business, the complexity and competitive environment of the industry, the disposition of the seller, and other factors. Under every situation, safeguarding the confidentiality of the seller is of absolute importance. It is a responsibility that Integra takes seriously. Consider the decrease in value a business could suffer if its key employees, vendors, customers or competitors discovered it was for sale. For this reason, each and every prospective buyer must provide the following items (at least) before receiving detailed information on a business that interests them:

Confidential Business Buyer Profile: This document will help your Integra broker evaluate business opportunities that best suit your background, experience, financial and lifestyle goals.

Personal Financial Statement: In conjunction with the Buyer Profile above, your Integra broker will require this document to determine business opportunities that suit your personal financial circumstances. This information will also be necessary to structure purchase offers and obtain financing when buying a business.

Confidentiality and Non-Disclosure Agreement: These documents identify your responsibilities and obligations as a prospective buyer concerning any confidential information disclosed about a business listed for sale by Integra.