A phone call, teleconference, or in-person conversation to get to know each other and talk about your business. If there is “chemistry” between us, we will determine next steps.

The preliminary study is about understanding your company better. To this end, we will start by signing a Non-Disclosure Agreement to give you confidence that all the information entrusted to me is safe. In the second step, I will ask you to provide me with your company’s basic documents, such as current and historical financial data, organizational structure, etc. We will also talk more about the market, its prospects and competition. At the end of thisstep, I will provide you with a written confirmation of my willingness to acquire your business, along with an estimated purchase price – most likely expressed in the price range (Indication of Interest).

After accepting the price range, I will be willing to visit your company and expand on any financial and non-financial threads raised so far. We will then establish mutually satisfactory terms of the transaction, i.e. payment terms and price, the way the transaction will be financed, your possible further involvement in the business, a non-compete agreement or exclusivity rights, among others. We will write down these terms in a so-called Letter of Intent.

This is the most time-consuming and labor-intensive stage of the business acquisition process. At this stage, along with the help of outside advisors in accounting, legal and possibly other fields, depending on the nature of your company’s;, I want to thoroughly understand your business in order to confirm that, with the inevitable asymmetry of information between the seller and the buyer, the terms we agreed upon in the Letter of Intent rightly reflect the company’s shape and condition and we can write them into a binding sales agreement.

We sign a sales agreement, I transfer the funds to you according to the agreed payment terms and become the new owner of your company. Immediately after that, hopefully with your temporary support and guidance, I take over your responsibilities and management of the company.