If you are looking to buy and these questions have been raised, you should seriously consider joining as a member buyer...
Q How do we find businesses to buy?
A. After you have created your membership profile as a buyer your anonymous details are published in the Directory. Potential sellers can then search the directory to find out what type of companies are interested in buying in their area. When sellers register we build a sales memorandum of their business, which they approve. The sales memorandum is then emailed to those buyers who have registered an interest in their location. If you then wish to meet the selling party we request permission to release the seller’s identity and arrange an informal initial discussion. We then provide feedback to both parties and if both wish continue discussions we will arrange subsequent meetings and assist with negotiations.
To become a member and register an interest in buying click here
Q. What questions should we definitely be asking in the first meeting?
A. At the first meeting it’s best to seek a cultural understanding of the business and a sense of the synergy between the two companies. However, in addition to this there are some fundamental points that should be covered to provide a good understanding of the proposition which will provide the platform on which discussions can progress. We have produced an initial questionnaire to assist our members with this process.
To become a member and register an interest in buying click here
Q. Where can we get help with the Due Diligence process?
A. However well managed a business is, due diligence can appear quite daunting for sellers the first time they see the documentation involved. Simply sending a long due diligence questionnaire is likely to put strain on any relationship, so how this is handled is very important. We do have an example of a due diligence questionnaire available to members that they are welcome to use, but we advise talking first to the legal member of our advisory board to gauge the best way to approach this. He will take calls directly from our members and will provide an initial free consultation over the telephone.
To become a member and register an interest in buying click here
Q. What else should we be considering when buying a practice?
A. Buying a business is a complex process and we always recommend seeking professional advice. However, to assist our members interested in buying we do a have a buyers guide download that covers many important issues.
To become a member and register an interest in buying click here