Before You Request Business Information
A Quick Guide for Prospective Buyers
Buying a business is a confidential process, and a few simple practices can help make the experience smoother for both Buyers and Sellers.
Here is a brief overview of what to expect as you begin exploring a business opportunity.
Please Respect the Business's Confidentiality
Business sale opportunities should be treated as confidential. In particular, it is important to avoid disclosing a potential sale to employees while the business is still operating.
Being mindful of confidentiality helps protect the Seller's business while allowing Buyers to explore an opportunity appropriately.
Confidential Information & CA/NDA
Before the business name, exact location, or other confidential information is shared, a Confidentiality Agreement (CA/NDA) is generally completed.
This allows you to review the available information and decide whether the opportunity may be a good fit.
Signing a CA/NDA does not obligate you to purchase the business.
When You'd Like to Learn More
After reviewing the information, if you would like to meet the owner, see non-public areas of the business, or discuss the opportunity further, please contact Philip Kim.
An appropriate visit or meeting can then be coordinated with the Seller in advance.
Communication with the Business
To help maintain confidentiality, sale-related conversations with the owner or employees should be avoided during an unannounced visit.
Please also avoid identifying yourself to employees as a prospective Buyer or asking them questions about the sale.
When a conversation or meeting with the Seller is needed, Philip Kim can coordinate it in advance so that it takes place at an appropriate time and in a way that works well for everyone.
Visiting as a Regular Customer
You are welcome to visit the business as a regular customer to experience the food, service, atmosphere, customer traffic, and general operation.
Every Business Is Different
Each business operates differently, and the best time and manner for a Buyer visit may depend on operating hours, staffing, and the Seller's circumstances.
Philip Kim will help coordinate the appropriate next step when you are ready.
How the Process Works
Every transaction is a little different, but most business purchases follow a similar general path.
You don't need to know every detail before you begin. Here's a simple overview of what to expect along the way.
We're Here to Guide You Through the Process
You don't need to know every step before you begin.
The goal at the beginning is simply to find the right opportunity, understand the information available to you, and decide whether you'd like to take the next step.
Every transaction is different, and more detailed guidance will be provided as you move forward with a specific business opportunity.