We'll kick things off with an introduction between your principals and our team. It's the first, and likely most important step in forging trust and finding alignment. This is your opportunity to shine while providing vital information about the industry and the company. It's crucial that we establish a good rapport and share a common vision for the future of the business.

After assessing the initial fit, we'll request review of your business financials (P&L, Income, Balance Sheets at minimum). We observe absolute discretion and regard all shared information as "confidential", however if a NDA is required, just let us know. We keep our initial requisite list short, deeper drives are reserved for the diligence phase.

If we're interested in learning more, it's time to meet you and tour your business. If both parties are comfortable, there may be some high-level exchange of basic terms to keep everyone aligned. This is called an IOI ("indication of interest"). This can help mitigate wasted time and reaffirms everyone's interest to advance. Remember, both the IOI and LOI (the next document) are non-binding and either party can exit the transaction at any time unless stated otherwise.

A LOI (Letter of Intent) is a commitment between you and us and follows the IOI. The LOI represents a real commitment to buy your business, with the exception of any unforeseen issues during diligence. The LOI outlines proposed terms, timelines, and a clause of exclusivity, which asks you to focus on our negotiation during the term. This shows commitment and is typically the only binding aspect of the LOI. Once signed, we'll advance to the diligence phase.

The diligence stage is the most time-consuming step in a small business acquisition. As the seller, you'll need to provide all business-related documents, which can be overwhelming. This provides us time to ask any questions related to the business and its history. Being proactive and organized will help ward off any delays.

The purchase agreement is the final contract that outlines what is being sold, the terms of the transfer, and the assurances made by each party about the condition of the assets ('reps & warranties'). It's common for deals to fall apart due to stress and trivial details. However, if we've reached this stage, it means we're close to signing, which leads to the closing of the deal.

This is the point when ownership of assets is transferred to our team and payment is made to the you. At this stage, any money held in escrow will be released, minus a percentage withheld to ensure that all agreements made in the reps and warranties are fulfilled. After the closing, the seller can assume any transition role negotiated, while we will be focused on getting comfortable with operating the acquired business.