It’s no secret that acquiring a business can prove to be one of the most lucrative and rewarding financial decisions an individual can ever make. What else can you invest in that offers immediate cash flow along with long-term appreciation while providing the freedom associated with being your own boss?

Unfortunately, too many perfectly capable and motivated people are scared away from the idea of purchasing a business simply because they don’t understand the process.

Admittedly, successfully buying a business is going to be more complicated than picking out a new couch for your living room, but as is the case with most multi-faceted procedures, having the right guidance, direction and advice can make all the difference in the world.

With these ideas in mind, it became clear in 2009 that the rules have changed – buyers need an advocate in the acquisition process. Although attorneys and accountants can offer their expertise on certain aspects of the business buying process, purchasers in the marketplace just don’t have the representation they need to smooth out an often bumpy road to acquiring a business.

The world of business brokerage has long been focused on the seller – list the right businesses and the right buyers will find you, then it’s up to the buyer to figure it out and jump through hoops to actually buy the business. I propose that it’s time for buyers to be offered an equal voice, as well as an equal level of expertise, in the business-buying process.

Buyers need someone from the broker’s side of the table to join their team and shed light on this complicated process so that they can break through the uncertainty and doubt and move forward with their dreams of owning their own business – and that is just what VR Huntington Business Group is offering.

We have taken our years of experience with hundreds of transactions and created a buy-side representation program that is designed to assist purchasers in the acquisition process from the initial moment they begin looking at a business, all the way to the closing table.

• How can you tell if a listing is “too good to be true?”
• Is it appropriate to submit an offer sheet or LOI?
• Is it possible to get financing on a business you are looking at?
• What are the typical offer structures that sellers should consider?
• What details should you expect a seller to disclose and when?
• When is it appropriate to meet the key employees?
• Should you assume the current lease or negotiate a new one with the landlord?

These are just examples of the hundreds of questions you will find yourself asking at certain points in the buying process, and these are the types of questions a buyer’s agent will be able to help you answer so that you can move forward more quickly and confidently.

Acquiring a business is like walking through a minefield – a buyer’s representative is there to navigate you through that minefield – they have been through it before and know where to step to avoid fatal results.

Jeremy Furtick is a Senior Business Intermediary with VR Huntington Business Group Inc. a VR Business Sales firm in Dallas (www.vrbigd.com).

VR Huntington Business Group, located in the heart of the DFW Metroplex, serves the entire Dallas-Fort Worth Metro area as well as North Texas. The company specializes in Business Brokerage, Mergers & Acquisitions, Business Valuation and Consulting services focusing on small businesses and mid-market companies.