Buying a Business With SPARTAN
There is more to buying a business than finding a business broker’s website…
At SPARTAN, we believe that buying a business is a process and our years of experience have allowed us to develop that process. The most important aspect is finding a business that is a good fit for you – the buyer. It is an absolute disaster to buy a business and then wake up a few months later thinking that you don’t want to be in that business.
You are now a business owner and, unlike being an employee, you cannot just give your two weeks’ notice and leave. You will need to find a buyer for the business and probably suffer a significant loss – both financially and personally. Therefore, let’s ensure that we get it right the first time.
The SPARTAN Buying Process
1 / You & Your Resources
We work with you to determine what type of business best fits you. We will find out your strengths, weaknesses, and your financial resources, and then create a “concept” company that is ideal for you.
2 / Search for the Right Business
The next step is to develop a “shortlist” of targeted companies that fit your criteria and then contact those companies to gauge their level of interest.
3 / Evaluation
Our team will meet with the potential seller, obtain non-disclosure agreements, and gather the relevant information required to enable you to make an informed investment decision. We also engage a Chartered Business Valuator (CBV) to determine the value of the targeted business.
4 / Negotiation
We then work with you to structure the deal, secure financing , and work collaboratively through the negotiation process. We also assist your corporate counsel in preparing a Letter of Intent (LOI).
5 / Final Due Diligence
Our team of professionals will assemble all pertinent information and coordinate the information flow between lawyers, accountants, and financing organizations.
6 / Closing
SPARTAN will be there to facilitate the closing process and ensure there are no 11th hour surprises.
7 / Aftercare
Your new business may need some help in the early stages with accounting systems and administration. With aid from our affiliated company, Jasper Enterprises Inc., we provide aftercare support so you can concentrate on operating your new business.