- Nearly all are first time buyers who are looking to replace a job ~ a paycheck.
- 90% don't know what kind of business they want.
- Most end up buying a completely different business than the one they inquired about initially.
- Most know nothing about how to buy a business, and are intimidated by the process.
- 90% have less than $100,000 in liquid funds, and require owner or bank financing.
- Most small businesses sell for 75-80% of the asking price.
- Sellers who hold out for all cash receive only 70% of the asking price.
- Sellers who accept financing terms receive 86% of the asking price.
- The lower the down payment, generally 20-35% of the purchase price, the quicker the sale.
- Small businesses are usually financed by sellers over 3-5 years.
- How do I determine what my business is worth?
- How do I find a qualified buyer?
- Will I have to help finance the purchase?
- How long will it take to sell?
- I don't want my customers to know I'm selling, how can I keep it a secret?
- Are real estate brokers also business brokers?
