FAQ’s for Buyers
The purchase of a business is an unfamiliar and sophisticated process for many entrepreneurs. We believe the best business acquisitions are completed in an environment of full disclosure between the parties, employing a process that utilizes good faith and fairness.
Buyers looking to acquire a privately held company or family-owned businesses might find the answers to some of the following questions helpful.
- Does it cost anything to look at a businesses Robert Reid Group has listed for sale as a buyer?
All of our fees are paid by our sell-side clients. There is no cost for a buyer to evaluate a business represented for sale by Robert Reid Group as a potential acquisition. All potential business buyers will be asked to complete a confidentiality agreement and demonstrate the ability financially to negotiate in good faith prior to receiving specific information about a business represented for sale.
- How do I review businesses represented for sale by Robert Reid Group?
The best way to review businesses represented for sale by Robert Reid Group on an ongoing basis is to sign-up on our website to receive information on our new and updated business listings.
In order to receive more detailed information about businesses, prospective buyers are required to complete a confidentiality agreement, hold all information provided in strict confidence, and demonstrate the financial ability to negotiate in good faith. All information provided to Robert Reid Group is held in strict confidence.
- How do I inquire about financing for a business purchase?
Robert Reid Group has relationships with the banking community in the DMV area. We are happy to provide introductions to experienced, knowledgeable bankers actively financing business acquisitions. We will also be able to assist you in finding the right connections for SBA financing if that is a good fit.
- Do you have recommendations for accountants or attorneys?
Robert Reid Group recommends that all buyers engage with experienced and knowledgeable attorneys and accountants to assist with entity formation, due diligence and the acquisition process. We are happy to provide introductions to attorneys and accountants who can provide the services needed.
- Why should I use a Business Broker
The benefits to the buyer of using a business broker are many. The business broker has already pre-screened a business before he lists it. The Business Broker has done a lot of work putting together financial information and company background which becomes very helpful to a buyer. The Business Broker has also worked with the seller of the business he has listed preparing them for the sale process and transition planning. This helps the buyer’s search for the right business be more efficient and understandable, and reduces some of the uncertainty they may feel.