[{"data":1,"prerenderedAt":514},["ShallowReactive",2],{"document-how-to-buy-a-small-business-D13155":3},{"document":4,"label":23,"preview":11,"thumb":24,"thumb600":25,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":26,"breadcrumb":30,"related":38,"customDescModule":185,"customdescription":6,"mdFm":186,"mdProseHtml":513},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":16,"keywords":15},"HOW TO BUY A SMALL BUSINESS If you're considering becoming an entrepreneur, many options are open to you. The most common options are launching a business by yourself, partnering with someone or some others, and buying an existing business as is. Buying a small business is a unique, yet viable way of creating a stream of income for yourself. However, this is as long as you invest in the right business and follow the appropriate steps. While buying an already existing business can bring on a lot of profit, it can also bring risks and losses with it if care isn't taken. You have to ensure that you know the important steps to follow. For that reason, we've put together a guide that'll help you while you consider buying a small business. With the guide, you'll know the important questions to ask, the right places to look, and the pros and cons of investing in an existing business. Why Do You Want To Buy A Small Business? It's indeed tempting to invest in a small business, especially if it's one that you're passionate about or one you're fond of. Whether you've been considering buying your favorite bar down the street, or you've had dreams of owning a bakery in memory of a childhood dream, it's important to stay realistic. Why do you want to own a business and which one can you buy? Here are some important questions that you'll need to answer: How Much Time Do I Have For This Business? Many people don't realize that you can own a business without running its day-to-day activities. Do you intend to acquire a business so you can run its daily activities, or do you intend to have a less conspicuous role as a silent partner? Rather than buying the business, if your intention is the latter, you can consider investment instead of acquisition. What is My Expertise in Business? This doesn't only relate to the type of business you own, but as a business person in general. As a business owner, you should have a level of expertise in the areas of marketing, accounting, management, etc., especially if you intend to run the business yourself. What is My Expertise in This Area of Business? How much do you know about the business you intend to buy, the market and competition analysis, and business planning? Even if you don't end up running the business yourself, you must know one or two things about the sector. How Will I Fund the Business? This is an important question that needs to be answered. Without a funding plan, a business has a 99% chance of crashing. Consider the funding options available to you, and the sustainability and longevity of the source. How Will I Acquire This Business? While you don't have to attend business school or have long years of experience before you own a business, it's still vital that you have a level of know-how when it comes to business. This helps to define the longevity of the business right from the beginning. Once this has been settled, you can now move on to acquiring the small business. Checklist for Buying a Small Business Acquiring a business involves many important steps. Some things should be put in place for your business acquisition to be valid and to ensure that you have the best opportunity before you. A business acquisition involves funding, management, legal, and accounting needs that have to be attended to. Here's a checklist that you should pay attention to before purchasing a business. Pick the Right Business When considering the business to buy, you can begin with things that interest you and areas you have a level of experience in. From there, you can narrow it down to businesses that have higher chances of thriving. Ask all the necessary questions relating to bankruptcy, the reason for sale, and existing court cases. This is to ensure that you aren't buying an existing problem. Look into the business history, challenges, and existing operations to ensure that the business will succeed under your ownership. Figure Out What the Business is Worth After picking the potential business, you can work out an estimate of how much you think the business is worth with a business appraiser",null,"How To Buy A Small Business","7",513,"doc","https://templates.business-in-a-box.com/imgs/1000px/how-to-buy-a-small-business-D13155.png","https://templates.business-in-a-box.com/imgs/250px/13155.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#13155.xml",{"title":15,"description":6},"how to buy a small business",[17,20],{"label":18,"url":19},"Business Plan Kit","/templates/business-plan-kit/",{"label":21,"url":22},"Starting a Business","/templates/starting-a-business/","How To Buy A Small Business Template","https://templates.business-in-a-box.com/imgs/400px/13155.png","https://templates.business-in-a-box.com/imgs/600px/13155.png",[27,17,20],{"label":28,"url":29},"Templates","/templates/",[31,32,35],{"label":28,"url":29},{"label":33,"url":34},"Legal Agreements","/templates/business-legal-agreements/",{"label":36,"url":37},"Equity & Mergers","/templates/equity-and-mergers/",[39,43,47,51,55,60,64,68,72,76,80,84,88,106,123,144,158,172],{"label":40,"url":41,"thumb":42,"extension":10},"How To Find Employees For Small Business","/template/how-to-find-employees-for-small-business-D13342","https://templates.business-in-a-box.com/imgs/250px/13342.png",{"label":44,"url":45,"thumb":46,"extension":10},"Proposal to Buy a Business","/template/proposal-to-buy-a-business-D338","https://templates.business-in-a-box.com/imgs/250px/338.png",{"label":48,"url":49,"thumb":50,"extension":10},"Checklist Evaluation to Buy a Business","/template/checklist-evaluation-to-buy-a-business-D326","https://templates.business-in-a-box.com/imgs/250px/326.png",{"label":52,"url":53,"thumb":54,"extension":10},"Small Engine Repair Business Plan","/template/small-engine-repair-business-plan-D12058","https://templates.business-in-a-box.com/imgs/250px/12058.png",{"label":56,"url":57,"thumb":58,"extension":59},"Small Business Expense Report","/template/small-business-expense-report-D13396","https://templates.business-in-a-box.com/imgs/250px/13396.png","xls",{"label":61,"url":62,"thumb":63,"extension":10},"Understanding Small Business Loans","/template/understanding-small-business-loans-D12933","https://templates.business-in-a-box.com/imgs/250px/12933.png",{"label":65,"url":66,"thumb":67,"extension":10},"How To Increase Business Sales","/template/how-to-increase-business-sales-D12951","https://templates.business-in-a-box.com/imgs/250px/12951.png",{"label":69,"url":70,"thumb":71,"extension":10},"How To Grow A Business","/template/how-to-grow-a-business-D12903","https://templates.business-in-a-box.com/imgs/250px/12903.png",{"label":73,"url":74,"thumb":75,"extension":10},"Checklist Small Business Legal Compliance Inventory","/template/checklist-small-business-legal-compliance-inventory-D864","https://templates.business-in-a-box.com/imgs/250px/864.png",{"label":77,"url":78,"thumb":79,"extension":10},"Buy Sell Agreement","/template/buy-sell-agreement-D12611","https://templates.business-in-a-box.com/imgs/250px/12611.png",{"label":81,"url":82,"thumb":83,"extension":10},"How To Start An Online Business","/template/how-to-start-an-online-business-D12954","https://templates.business-in-a-box.com/imgs/250px/12954.png",{"label":85,"url":86,"thumb":87,"extension":10},"Option to Buy Agreement","/template/option-to-buy-agreement-D336","https://templates.business-in-a-box.com/imgs/250px/336.png",{"description":89,"descriptionCustom":6,"label":90,"pages":91,"size":9,"extension":10,"preview":92,"thumb":93,"svgFrame":94,"seoMetadata":95,"parents":97,"keywords":104,"url":105},"[DATE] [CONTACT NAME] [ADDRESS] [ADDRESS 2] [CITY, STATE/PROVINCE] [ZIP/POSTAL CODE] SUBJECT: LETTER OF INTENT FOR PURCHASE OF COMPUTER EQUIPMENT Dear [Contact name], [YOUR COMPANY NAME] intends to purchase certain computer hardware from [SELLER]. The purpose of this Letter of Intent is to summarize our discussions to date and to confirm our respective intentions with respect to the proposed transaction. [YOUR COMPANY NAME] intends to purchase from [SELLER] the [Model] computer. The purchase price for the [Model] model shall be the lower of [Amount] or whatever better price [SELLER] is able to extend to [YOUR COMPANY NAME]. [YOUR COMPANY NAME] and [SELLER] will use their best efforts to conclude a contract on or before [Date].","Letter of Intent for Purchase of Computer Equipment","1","https://templates.business-in-a-box.com/imgs/1000px/letter-of-intent-for-purchase-of-computer-equipment-D1148.png","https://templates.business-in-a-box.com/imgs/250px/1148.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1148.xml",{"title":96,"description":6},"letter of intent for purchase of computer equipment",[98,101],{"label":99,"url":100},"Production & Operations","production-operations",{"label":102,"url":103},"Equipment Agreement","equipment-agreement","letter intent for purchase computer equipment","/template/letter-of-intent-for-purchase-of-computer-equipment-D1148",{"description":107,"descriptionCustom":6,"label":108,"pages":109,"size":110,"extension":10,"preview":111,"thumb":112,"svgFrame":113,"seoMetadata":114,"parents":115,"keywords":121,"url":122},"TABLE OF CONTENTS Pages 1. INTERPRETATION 5 1.1 Definitions 5 1.2 Generally Accepted Accounting Principles 7 1.3 Headings and References 7 1.4 Extended Meanings 7 1.5 Schedules 7 1.6 Currency 7 1.7 Tender 7 1.8 Performance on Holidays 7 1.9 Calculation of Time 7 1.10 Ordinary Course 7 1.11 \"Material\" and \"Materially\" Defined 7 2. PURCHASE AND SALE 7 2.1 Purchase and Sale and Purchase Price 7 2.1.1 Term and Conditions 7 2.1.2 The Purchase Price shall be paid and satisfied as follows: 7 2.2 Adjustments 7 2.2.1. Net Worth Determination 7 2.2.2. Final Determination of Purchase Price 7 2.2.3. Disputes 7 2.3 Closing 7 2.4 Allocation of Purchase Price 7 2.5 General Adjustments 7 2.6 Accounts Receivable 7 2.7 Liabilities Not Assumed 7 2.8 Transfer Taxes 7 2.9 Non-Assignable Contracts 7 2.10 Increase in Rent on Assignment 7 3. REPRESENTATIONS AND WARRANTIES 7 3.1. Representations and Warranties of the Vendor 7 3.1.1 Corporate Matters 7 3.1.2 Title to Purchased Assets 7 3.1.3 No Options 7 3.1.4 The Financial Statements 7 3.1.5 Undisclosed Liabilities 7 3.1.6 Absence of Changes 7 3.1.7 Absence of Unusual Transactions 7 3.1.8 Tax Matters 7 3.1.9 Books and Records 7 3.1.10 Leases, Material Contracts, etc. 7 3.1.11 Accounts Receivable 7 3.1.12 Consents, Approvals, Etc. 7 3.1.13 Absence of Guarantees 7 3.1.14 Restrictions on Business 7 3.1.15 Absence of Conflicting Agreements 7 3.1.16 Compliance with Applicable [YOUR COUNTRY LAW] 7 3.1.17 Employees 7 3.1.18 Collective Agreements 7 3.1.19 Benefit Plans 7 3.1.20 Litigation 7 3.1.21 Insurance 7 3.1.22 Leases 7 3.1.23 Premises 7 3.1.24 No Expropriation 7 3.1.25 Leased Equipment 7 3.1.26 Licenses 7 3.1.27 Intellectual Property Rights 7 3.1.28 Assets 7 3.1.29 Inventories 7 3.1.30 Forward Commitments 7 3.1.31 Copies of Documents 7 3.1.32 Residency 7 3.1.33 Environmental Matters 7 3.1.34 Occupational Health and Safety 7 3.1.35 Workers' Compensation 7 3.1.36 Disclosure 7 3.1.37 Obligations to Customers 7 3.1.38 Retail Outlets 7 3.2. Representations and Warranties of the Purchaser 7 3.2.1 Incorporation 7 3.2.2 Corporate Power and Due Authorization 7 3.2.3 Enforceability of Obligations 7 3.2.4 Absence of Conflicting Agreements 7 3.2.5 Consents and Approvals 7 3.3. Interpretation 7 3.4. Commission 7 3.5. Qualification of Representations and Warranties 7 3.6. Non-Waiver 7 3.7. Survival of Representations and Warranties of the Vendor 7 3.8. Survival of Representations and Warranties of Purchaser 7 3.9. Knowledge of the Vendor 7 4. OTHER COVENANTS OF THE [COMPANY NAME] 7 4.1. Conduct of Business Prior to Closing 7 4.2. Conduct Business in Ordinary Course 7 4.3. Contracts 7 4.4. Continue Insurance 7 4.5. Comply with [YOUR COUNTRY LAW] 7 4.6. Taxes 7 4.7. Employees 7 4.8. Material Changes 7 4.9. Liens 7 4.10. Action by Vendor 7 4.11. Capital Expenditures 7 4.12. [SPECIFY] Claim 7 4.13. Conduct of Business Prior to Closing 7 4.14. Lease Consents and Estoppel Certificates 7 4.15. Consents and Waivers 7 4.16. Access for Investigation 7 4.17. Delivery of Books and Records 7 4.18. Accounts Receivable 7 4.19. Discharge of Obligations 7 4.20. Cooperation 7 4.21. Employees 7 4.21.1. Offer of Employment 7 4.21.2. Employment Process 7 4.21.3. Indemnification for Severance Claims of Non-Hired Employees 7 4.21.4. Claims Re: Employment Prior to Closing 7 4.21.5. Benefit Plans 7 4.21.6. Termination after Time of Closing 7 4.22. Pension Plan for Employees 7 4.23. Actions to Satisfy Closing Conditions 7 4.24. Disclosure 7 4.25. Injunctions 7 4.26. Action by the Vendor 7 4.27. Competition Act 7 4.28. Bulk Sales Legislation and Provincial Legislation 7 4.29. Consignment Goods and Contractual Rights 7 4.30. [DATE] Financial Statements 7 4.31. Purchaser Radius Clauses 7 5. INDEMNIFICATION 7 5.1 Definitions 7 5.2 Indemnification by the Vendor 7 5.3 Indemnification by the Purchaser 7 5.4 Notice of and the Defense of Third Party Claims 7 5.5 Assistance for Third Party Claims 7 5.6 Settlement of Third Party Claims 7 5.7 Direct Claims 7 5.8 Failure to Give Timely Notice 7 5.9 Payment and Interest 7 5.10 Limitation 7 5.11 Rights in Addition 7 5.12 Survival 7 5.13 Subsequent Recovery 7 5.14 Subrogation 7 5.15 Letter of Credit 7 5.16 Notices to Escrow Agent 7 6. CONDITIONS PRECEDENT 7 6.1 Purchaser's Conditions 7 6.2 Accuracy of Representations and Performance of Covenants 7 6.3 Consents to Assignments 7 6.4 No Material Adverse Change 7 6.5 Litigation 7 6.6 Receipt of Closing Documentation 7 6.7 Non-Competition Agreement 7 6.8 Opinion of Counsel for Vendor 7 6.9 Approval of Board of Directors 7 6.10 Management Agreement 7 6.11 Space and Facilities Agreement 7 6.12 Trade Mark License Agreement 7 6.13 Trade Mark Assignment 7 6.14 Cancellation of Certain Agreements 7 6.15 Environmental Audit 7 6.16 Escrow Agreement 7 6.17 Minimum Number of Leases 7 6.18 Vendor's Conditions 7 6.18.1. Accuracy of Representations and Performance of Covenants 7 6.18.2. Litigation 7 6.18.3. Opinion of Counsel for Purchaser 7 6.18.4. Competition Act 7 6.18.5. Minimum Number of Leases 7 6.18.6. Approval of [SPECIFY] Board of Directors 7 6.18.7. Escrow Agreement 7 6.18.8. Management Agreement 7 6.19 Waiver 7 6.20 Failure to Satisfy Conditions 7 6.21 Destruction or Expropriation 7 7. POST CLOSING OPERATIONS 7 7.1 Failure to Obtain Consent to Assignment of Lease 7 7.1.1. If with respect of any Lease described in Schedule [SPECIFY], the Vendor is unable to obtain any necessary consent, substantially in form or forms approved or deemed approved pursuant to subsection 4.1.10, to the assignment thereof to the Purchaser as herein contemplated at the Time of Closing (a \"Non-Assignable Lease\"), then the Non-Assignable Lease shall not be assigned and the Purchaser shall, in accordance with the terms of a management agreement to be entered into by the parties at Closing, manage the Business as it is carried on at the location covered by the Non-Assignable Lease for the account of the Vendor provided that such agreement does not result in a violation of any Applicable [YOUR COUNTRY LAW] or result in the early termination of the Non-Assignable Lease. 7 7.2 Delivery of Space and Facilities Agreement 7 7.3 Release of Vendor from Lease Covenants 7 7.4 No Hiring of Employees 7 7.5 Access for Taxes 7 7.6 Volume Rebates 7 7.7 Remediation of Certain Outstanding Phase I Violations 7 8. GENERAL 7 8.1 Further Assurances 7 8.2 Time of the Essence 7 8.3 Expenses 7 8.4 Benefit of the Agreement 7 8.5 Entire Agreement 7 8.6 Amendments and Waiver 7 8.7 Assignment 7 8.8 Notices 7 8.9 Confidentiality 7 8.10 Governing [YOUR COUNTRY LAW] 7 8.11 Attornment 7 8.12 Counterparts 7 ASSET PURCHASE AGREEMENT This Asset Purchase Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Purchaser\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [COMPANY NAME] (the \"Vendor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS the Vendor, through its [COMPANY NAME], is in the [SPECIFY] business; AND WHEREAS the Vendor desires to sell and the Purchaser desires to purchase as a going concern the undertaking and substantially all of the assets relating to the business of the Vendor's [COMPANY NAME], upon and subject to the terms and conditions hereinafter set forth; NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and the covenants and agreements herein contained the parties hereto agree as follows: INTERPRETATION Definitions In this Agreement, unless something in the subject matter or context is inconsistent therewith:","Asset Purchase Agreement For a Retail Business","71",671,"https://templates.business-in-a-box.com/imgs/1000px/asset-purchase-agreement_for-a-retail-business-D931.png","https://templates.business-in-a-box.com/imgs/250px/931.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#931.xml",{"title":6,"description":6},[116,118],{"label":33,"url":117},"business-legal-agreements",{"label":119,"url":120},"Purchase & Sale Agreements","purchase-sale-agreement","asset purchase agreement for a retail business","/template/asset-purchase-agreement-for-a-retail-business-D931",{"description":124,"descriptionCustom":6,"label":125,"pages":126,"size":127,"extension":10,"preview":128,"thumb":129,"svgFrame":130,"seoMetadata":131,"parents":132,"keywords":142,"url":143},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[133,136,139],{"label":134,"url":135},"Finance & Accounting","finance-accounting",{"label":137,"url":138},"Business Loans","business-loan",{"label":140,"url":141},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":145,"descriptionCustom":6,"label":146,"pages":126,"size":9,"extension":10,"preview":147,"thumb":148,"svgFrame":149,"seoMetadata":150,"parents":152,"keywords":151,"url":157},"NON-DISCLOSURE AGREEMENT (NDA) This Non-Disclosure Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Disclosing Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [RECEIVING PARTY NAME] (the \"Receiving Party\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, Receiving Party has been or will be engaged in the performance of work on [DESCRIBE]; and in connection therewith will be given access to certain confidential and proprietary information; and WHEREAS, Receiving Party and Disclosing Party wish to evidence by this Agreement the manner in which said confidential and proprietary material will be treated. NOW, THEREFORE, it is agreed as follows: NON-DISCLOSURE OF CONFIDENTIAL INFORMATION Both Parties understand and agree that each Party may have access to the confidential information of the other party. For the purposes of this Agreement, \"Confidential Information\" means proprietary and confidential information about the Disclosing Party's (or it's suppliers') business or activities. Such information includes all business, financial, technical, and other information marked or designated by such Party as \"confidential\" or \"proprietary.\" Confidential Information also includes information which, by the nature of the circumstances surrounding the disclosure, ought in good faith to be treated as confidential. For the purposes of this Agreement, Confidential Information does not include: Information that is currently in the public domain or that enters the public domain after the signing of this Agreement. Information a Party lawfully receives from a third Party without restriction on disclosure and without breach of a non-disclosure obligation. Information that the Receiving Party knew prior to receiving any Confidential Information from the Disclosing Party. Information that the Receiving Party independently develops without reliance on any Confidential Information from the Disclosing Party. Each Party agrees that it will not disclose to any third Party or use any Confidential Information disclosed to it by the other Party except when expressly permitted in writing by the other Party. Each Party also agrees that it will take all reasonable measures to maintain the confidentiality of all Confidential Information of the other Party in its possession or control. TERM The term of this Agreement is [number] of [years/months] from the date of execution by both Parties. TITLE The Receiving Party agrees that all Confidential Information furnished by the Disclosing Party shall remain the sole property of the Disclosing Party. DISCLAIMER","Non Disclosure Agreement Nda","https://templates.business-in-a-box.com/imgs/1000px/non-disclosure-agreement-nda-D12692.png","https://templates.business-in-a-box.com/imgs/250px/12692.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12692.xml",{"title":151,"description":6},"non disclosure agreement nda",[153,154],{"label":33,"url":117},{"label":155,"url":156},"Confidentiality Agreements","confidentiality-agreement","/template/non-disclosure-agreement-nda-D12692",{"description":159,"descriptionCustom":6,"label":160,"pages":91,"size":9,"extension":59,"preview":161,"thumb":162,"svgFrame":163,"seoMetadata":164,"parents":166,"keywords":165,"url":171},"Indicates the future financial performance of a business for a period of twelve months.","Financial Projections_12 Months","https://templates.business-in-a-box.com/imgs/1000px/financial-projections_12-months-D360.png","https://templates.business-in-a-box.com/imgs/250px/360.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#360.xml",{"title":165,"description":6},"financial projections_12 months",[167,168],{"label":134,"url":135},{"label":169,"url":170},"Financial Statements","financial-statements","/template/financial-projections_12-months-D360",{"description":173,"descriptionCustom":6,"label":174,"pages":91,"size":9,"extension":10,"preview":175,"thumb":176,"svgFrame":177,"seoMetadata":178,"parents":180,"keywords":179,"url":184},"","Business Plan Canvas (One Page)","https://templates.business-in-a-box.com/imgs/1000px/business-plan-canvas-(one-page)-D12527.png","https://templates.business-in-a-box.com/imgs/250px/12527.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#12527.xml",{"title":179,"description":6},"business plan canvas (one page)",[181,183],{"label":18,"url":182},"business-plan-kit",{"label":18,"url":182},"/template/business-plan-canvas-(one-page)-D12527",false,{"seo":187,"reviewer":198,"quick_facts":202,"at_a_glance":204,"personas":208,"variants":233,"glossary":260,"sections":297,"how_to_fill":347,"common_mistakes":388,"faqs":405,"industries":433,"comparisons":458,"diy_vs_pro":473,"educational_modules":486,"related_template_ids_curated":489,"schema":499,"classification":501},{"meta_title":188,"meta_description":189,"primary_keyword":15,"secondary_keywords":190},"How To Buy A Small Business Template | BIB","Free how to buy a small business template covering deal sourcing, due diligence, valuation, financing, and closing.",[191,192,193,194,195,196,197],"buying a small business checklist","small business acquisition template","how to buy a business guide","business purchase checklist","small business due diligence template","buying a business step by step","business acquisition process template",{"name":199,"credential":200,"reviewed_date":201},"Bruno Goulet","CEO, Business in a Box","2026-05-02",{"difficulty":203,"legal_review_recommended":185,"signature_required":185},"advanced",{"what_it_is":205,"when_you_need_it":206,"whats_inside":207},"How To Buy A Small Business is a structured operational guide that walks a prospective buyer through every phase of a business acquisition — from defining acquisition criteria and sourcing deals to conducting due diligence, negotiating price, securing financing, and closing. This free Word download gives you a ready-to-use framework you can edit online and export as PDF to share with advisors, lenders, or business partners.\n","Use it when you are actively evaluating one or more businesses for purchase and need a systematic process to assess risk, determine fair value, and structure the transaction. It is equally useful for first-time buyers who need a roadmap and experienced operators who want a repeatable acquisition framework.\n","Acquisition criteria and target profile, deal sourcing methods, preliminary screening and LOI guidance, financial and operational due diligence checklists, valuation methodologies, financing options, purchase agreement overview, transition planning, and post-close integration steps.\n",[209,213,217,221,225,229],{"title":210,"use_case":211,"icon_asset_id":212},"First-time business buyers","Navigating a first acquisition without missing critical due diligence steps","persona-small-business-owner",{"title":214,"use_case":215,"icon_asset_id":216},"Entrepreneurs seeking an alternative to startup","Buying an existing business with proven cash flow instead of building from scratch","persona-startup-founder",{"title":218,"use_case":219,"icon_asset_id":220},"Private equity and search fund operators","Standardizing a repeatable deal evaluation and closing process","persona-ceo",{"title":222,"use_case":223,"icon_asset_id":224},"Business brokers and M&A advisors","Providing clients with a structured buyer-side process framework","persona-operations-director",{"title":226,"use_case":227,"icon_asset_id":228},"Corporate development teams","Evaluating tuck-in acquisitions to accelerate growth or add capabilities","persona-hr-manager",{"title":230,"use_case":231,"icon_asset_id":232},"SBA loan applicants","Preparing acquisition documentation required for 7(a) or 504 loan approval","persona-franchise-applicant",[234,238,241,245,249,253,256],{"situation":235,"recommended_template":236,"slug":237},"Buying a franchise instead of an independent business","Franchise Business Plan","business-plan-template-D12528",{"situation":239,"recommended_template":240,"slug":237},"Acquiring a business and needing a formal integration plan","Business Integration Plan",{"situation":242,"recommended_template":243,"slug":244},"Formalizing the agreed purchase terms before full documentation","Letter of Intent (Business Acquisition)","letter-of-intent-D12655",{"situation":246,"recommended_template":247,"slug":248},"Documenting the final sale and transfer of ownership","Business Purchase Agreement","asset-purchase-agreement-for-a-retail-business-D931",{"situation":250,"recommended_template":251,"slug":252},"Assessing the seller's business before making an offer","Business Due Diligence Checklist","checklist-customer-due-diligence-D13916",{"situation":254,"recommended_template":125,"slug":255},"Structuring seller financing as part of the deal","promissory-note-D434",{"situation":257,"recommended_template":258,"slug":259},"Projecting post-acquisition financial performance","Financial Projections Template","financial-projections_12-months-D360",[261,264,267,270,273,276,279,282,285,288,291,294],{"term":262,"definition":263},"Letter of Intent (LOI)","A non-binding document outlining the buyer's proposed price, structure, and key conditions before a formal purchase agreement is drafted.",{"term":265,"definition":266},"Due Diligence","The structured investigation of a target business's financials, operations, legal standing, and liabilities before completing a purchase.",{"term":268,"definition":269},"Seller's Discretionary Earnings (SDE)","A measure of total cash benefit to a full-time owner-operator, calculated by adding the owner's salary and personal expenses back to net income — the standard valuation basis for small businesses.",{"term":271,"definition":272},"EBITDA Multiple","A valuation method that multiplies a business's Earnings Before Interest, Taxes, Depreciation, and Amortization by an industry-specific multiplier to estimate purchase price.",{"term":274,"definition":275},"Asset Sale","A transaction structure in which the buyer purchases specific assets and liabilities of a business, rather than the legal entity itself — common for small business acquisitions.",{"term":277,"definition":278},"Stock Sale (Share Purchase)","A transaction in which the buyer acquires the seller's ownership shares, taking on all the entity's existing assets and liabilities — more common in larger deals.",{"term":280,"definition":281},"Working Capital","Current assets minus current liabilities at the time of close — typically negotiated as a target amount the seller must leave in the business for normal operations.",{"term":283,"definition":284},"Earnout","A portion of the purchase price contingent on the acquired business hitting defined revenue or profit targets in the months or years after close.",{"term":286,"definition":287},"Non-Compete Agreement","A clause or standalone agreement preventing the seller from opening or joining a competing business in the same market for a defined period after the sale.",{"term":289,"definition":290},"Quality of Earnings (QoE)","An independent analysis of a business's financial statements to verify that reported earnings are sustainable, recurring, and accurately stated.",{"term":292,"definition":293},"Transition Services Agreement (TSA)","A post-close arrangement in which the seller continues to provide operational support — customer introductions, system access, supplier relationships — for a defined period.",{"term":295,"definition":296},"SBA 7(a) Loan","A US Small Business Administration loan program commonly used to finance small business acquisitions, covering up to 90% of the purchase price for qualifying transactions.",[298,303,308,313,318,322,327,332,337,342],{"name":299,"plain_english":300,"sample_language":301,"common_mistake":302},"Acquisition Criteria and Buyer Profile","Defines the type of business you are looking for — industry, revenue range, geography, deal size, and your non-negotiables — before you start searching.","Target profile: [INDUSTRY] businesses with annual SDE of $[X]–$[X], located in [GEOGRAPHY], asking price $[X]–$[X], at least [X] years in operation, with [OWNER ABSENTEE / OWNER-OPERATED] management structure.","Skipping this step and evaluating every deal that surfaces. Without defined criteria, buyers waste months on deals outside their skill set or budget, and sellers sense indecision during negotiation.",{"name":304,"plain_english":305,"sample_language":306,"common_mistake":307},"Deal Sourcing and Target Identification","Documents the channels used to find acquisition targets — business brokers, online marketplaces, direct outreach, industry associations, and professional networks.","Active sourcing channels: BizBuySell, broker outreach (list 3–5 regional brokers), LinkedIn direct outreach to [INDUSTRY] owners aged 55+, referrals from [ACCOUNTANT / ATTORNEY / BANKER].","Relying on a single channel such as BizBuySell. Off-market deals found through direct outreach or referrals typically carry lower asking multiples and less buyer competition.",{"name":309,"plain_english":310,"sample_language":311,"common_mistake":312},"Preliminary Screening and NDA","Covers the initial review of a Confidential Information Memorandum (CIM), quick financial screening against your criteria, and execution of a mutual NDA before receiving detailed records.","Screen against criteria: revenue $[X]–$[X], SDE $[X]+, seller asking multiple under [X]×. If criteria met, execute NDA and request: [3 years P&L, tax returns, aging AR/AP, top-10 customer list].","Sharing detailed personal financial information with a seller before signing an NDA. Without one, confidential disclosures on both sides are unprotected.",{"name":314,"plain_english":315,"sample_language":316,"common_mistake":317},"Business Valuation","Applies one or more valuation methods — SDE multiple, EBITDA multiple, or asset-based — to arrive at a supportable offer price range before drafting the LOI.","Valuation method: SDE × [INDUSTRY MULTIPLE, e.g., 2.5–3.5]. Adjusted SDE: $[X] (add-backs: owner salary $[X], personal vehicle $[X], one-time expenses $[X]). Indicated value range: $[X]–$[X].","Accepting the seller's stated SDE without independently recalculating add-backs. Sellers routinely include personal expenses that a new owner would not incur, inflating reported earnings.",{"name":262,"plain_english":319,"sample_language":320,"common_mistake":321},"Outlines the proposed purchase price, deal structure (asset vs. stock), earnout conditions, exclusivity period, and key contingencies before formal due diligence begins.","Proposed purchase price: $[X] ([X]% cash at close, [X]% seller note over [X] years at [X]% interest). Structure: Asset sale. Exclusivity: [X] days. Contingencies: satisfactory due diligence, SBA financing approval.","Granting an exclusivity period longer than 60 days without significant deal progress. Long exclusivity periods remove your negotiating leverage if diligence reveals problems.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Due Diligence Checklist","A structured list of financial, legal, operational, and customer-related documents to obtain and verify before committing to the purchase.","Financial: 3 years tax returns, monthly P&L, balance sheets, AR/AP aging. Legal: entity documents, leases, contracts, pending litigation. Ops: employee list with roles and tenure, key supplier agreements, equipment list with condition.","Focusing only on financials and ignoring operational and legal diligence. Undisclosed litigation, lease terms, or key-person dependencies can destroy value faster than any accounting error.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Financing Structure","Documents the funding sources for the acquisition — SBA loan, conventional bank financing, seller financing, equity from the buyer, or a combination — with terms and conditions.","Sources: SBA 7(a) loan $[X] ([X]% of purchase price, 10-year term, [X]% rate); seller note $[X] ([X]-year term, [X]% interest, subordinated); buyer equity injection $[X] ([X]% of purchase price).","Starting the SBA pre-approval process after signing the LOI. SBA 7(a) approvals take 45–90 days — delays caused by late applications routinely kill deals under exclusivity.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Purchase Agreement and Closing Checklist","Summarizes the key terms of the Business Purchase Agreement and lists every document and action required to reach a clean close — bill of sale, assignment of leases, licenses, and accounts.","Closing documents: Business Purchase Agreement, Bill of Sale, Assignment of Lease ([LANDLORD CONSENT by DATE]), Assignment of Contracts, Non-Compete Agreement ([SELLER NAME], [X]-year term, [GEOGRAPHY]), UCC lien search clearance.","Not obtaining landlord consent for lease assignment until the week of close. Landlords can delay or block a transfer — securing consent early should be a due diligence condition, not a last-minute task.",{"name":338,"plain_english":339,"sample_language":340,"common_mistake":341},"Transition and Training Plan","Defines the seller's post-close obligations — training period, customer and supplier introductions, staff communication, and handover of systems, credentials, and vendor accounts.","Seller to provide [X] weeks of on-site training at no additional cost. Key introductions: top [X] customers by [DATE], primary suppliers by [DATE]. Credential handover: POS system, bank accounts, vendor logins by [CLOSE DATE + 5 days].","Accepting a seller's verbal commitment to help with the transition instead of specifying it in the purchase agreement. Without written obligations and a timeline, sellers disengage quickly after receiving payment.",{"name":343,"plain_english":344,"sample_language":345,"common_mistake":346},"Post-Close Integration and 90-Day Plan","A structured action plan for the first 90 days of ownership — employee retention, customer communication, process documentation, and quick operational wins.","Days 1–30: Meet all employees individually, retain key staff with [retention bonus / role confirmation], audit cash handling and POS procedures. Days 31–60: Contact top-20 customers, review all supplier contracts for renegotiation. Days 61–90: Implement [PRIORITY SYSTEM / PROCESS IMPROVEMENT], establish monthly P&L review cadence.","Changing too many processes in the first 30 days. Rapid operational changes alarm employees and customers before you understand why existing processes exist — listen and document before you optimize.",[348,353,358,363,368,373,378,383],{"step":349,"title":350,"description":351,"tip":352},1,"Define your acquisition criteria before searching","Fill in the target profile section with your industry focus, geographic limits, SDE or revenue range, maximum purchase price, and deal structure preferences. Be specific — criteria like 'profitable service business under $1M' are too broad to generate focused deal flow.","Add a 'hard pass' list of deal types you will not consider regardless of price — absentee ownership requirements, regulated industries you lack experience in, or businesses with more than 20% customer concentration in a single account.",{"step":354,"title":355,"description":356,"tip":357},2,"Activate at least three sourcing channels simultaneously","List the brokers you are contacting, the marketplaces you are monitoring, and the direct outreach strategy you are using. Log every deal you review with a status and the reason for passing or advancing.","Call three to five regional business brokers directly rather than only browsing their listings online. Brokers surface off-market or pre-listed deals to buyers they know.",{"step":359,"title":360,"description":361,"tip":362},3,"Complete preliminary screening before requesting confidential data","For each deal that meets your surface criteria, execute an NDA before requesting tax returns or customer lists. Fill in the screening section with the financials you received and your adjusted SDE calculation.","Ask the seller or broker for the last 12 months of bank statements alongside the P&L — bank deposits are harder to manipulate than accounting records.",{"step":364,"title":365,"description":366,"tip":367},4,"Run your own valuation independently of the asking price","Use the valuation section to calculate SDE from the seller's P&L, apply your add-backs, then multiply by the appropriate industry range. Compare your indicated value to the asking price before deciding whether to make an offer.","Research comparable sales on BizBuySell or IBBA data to confirm your multiple assumptions — multiples for the same SDE can vary by 1× or more between industries.",{"step":369,"title":370,"description":371,"tip":372},5,"Draft and submit an LOI with a 45-day exclusivity period","Use the LOI section to confirm purchase price, structure, earnout conditions if any, and a hard exclusivity deadline. State your financing contingency explicitly so the seller understands the timeline.","Include a 'no-shop' clause requiring the seller to take the business off the market during exclusivity in exchange for your commitment to move quickly on diligence.",{"step":374,"title":375,"description":376,"tip":377},6,"Execute due diligence systematically using the checklist","Work through the due diligence checklist category by category — financial, legal, operational, customer, and employee. Log every item as received, pending, or a concern requiring follow-up.","Hire a CPA to perform a Quality of Earnings analysis for any deal over $500K. A QoE catches adjusted earnings claims that simple P&L review misses.",{"step":379,"title":380,"description":381,"tip":382},7,"Confirm financing before the LOI exclusivity period expires","Submit your SBA or bank loan application within the first week of exclusivity. Fill in the financing section with your lender contact, loan amount, terms, and the documents they require from the seller.","Give your lender the seller's last three years of tax returns and a current balance sheet on day one of exclusivity — incomplete packages are the primary cause of SBA approval delays.",{"step":384,"title":385,"description":386,"tip":387},8,"Set transition and 90-day plan expectations before close","Complete the transition plan section with the seller's specific obligations — hours per week, duration, customer introduction deadlines, and credential handover dates — and confirm these terms are written into the purchase agreement.","Negotiate at least 2–4 weeks of full-time seller training as a condition of close, especially if the business has technical operations or strong customer relationships tied to the owner.",[389,393,397,401],{"mistake":390,"why_it_matters":391,"fix":392},"Skipping an independent valuation and anchoring to the asking price","Asking prices for small businesses are set by sellers, not by market data. Without your own SDE recalculation and comparable sales research, you risk overpaying by 20–50% on a deal where the earnings were inflated by undisclosed add-backs.","Calculate SDE from raw financial data — tax returns, not the seller's recast P&L — before making any offer. Apply a market multiple from IBBA or BizBuySell transaction data for the specific industry.",{"mistake":394,"why_it_matters":395,"fix":396},"Starting SBA financing after signing the LOI","SBA 7(a) approvals take 45–90 days from a complete application. Deals signed under 60-day exclusivity routinely collapse because the buyer runs out of time before the lender clears the loan.","Get SBA pre-qualified before you make any offers. Submit the full application to your lender within 48 hours of the signed LOI.",{"mistake":398,"why_it_matters":399,"fix":400},"Accepting verbal transition commitments instead of written obligations","Once the seller has the proceeds, their motivation to train you, introduce customers, or transfer credentials drops to near zero. A seller who verbally committed to 60 days of help may disappear after 2 weeks.","Specify the seller's post-close obligations — hours per week, duration, specific introduction milestones, and credential handover deadlines — in the purchase agreement, with a portion of the purchase price held in escrow until obligations are met.",{"mistake":402,"why_it_matters":403,"fix":404},"Conducting financial diligence but skipping legal and operational reviews","Undisclosed lawsuits, personal guarantees on equipment leases, lease non-assignment clauses, or a business that depends on a single employee can eliminate the business's value entirely — none of these appear on a P&L.","Run a UCC lien search, pull any pending litigation, review every contract for assignment restrictions, and identify key-person dependencies in the first two weeks of due diligence.",[406,409,412,415,418,421,424,427,430],{"question":407,"answer":408},"How do you buy a small business?","Buying a small business involves six sequential phases: defining your acquisition criteria, sourcing and screening targets, valuing the business and making an offer via a Letter of Intent, conducting due diligence on financials and operations, securing financing, and closing with a signed Purchase Agreement. Each phase builds on the last — skipping due diligence or starting financing late are the two most common reasons deals fall apart. A structured guide like this template keeps each phase on track.\n",{"question":410,"answer":411},"How much does it cost to buy a small business?","Small businesses typically sell for 2–4× the owner's Seller's Discretionary Earnings (SDE). A business generating $150,000 in SDE might list for $375,000–$600,000. Buyers typically contribute 10–30% as a down payment with the remainder financed through an SBA 7(a) loan, seller financing, or a combination. Beyond the purchase price, budget for closing costs (attorney, lender fees, and broker commission if applicable) of $10,000–$30,000 on a typical deal.\n",{"question":413,"answer":414},"What is due diligence when buying a business?","Due diligence is the formal investigation phase after the LOI is signed, during which the buyer verifies the seller's financial statements, reviews legal documents and contracts, inspects operations, and identifies undisclosed liabilities. Financial diligence confirms that reported earnings are real and recurring. Legal diligence uncovers pending litigation, lease restrictions, and contract assignment issues. Operational diligence reveals key-person dependencies, equipment condition, and supplier concentration risks.\n",{"question":416,"answer":417},"What is the difference between an asset sale and a stock sale?","In an asset sale, the buyer purchases specific assets — inventory, equipment, customer lists, trade name, and goodwill — without assuming the seller's corporate liabilities or history. In a stock sale, the buyer purchases the owner's shares and inherits the entire legal entity, including undisclosed liabilities. Asset sales are standard for small business acquisitions because they give the buyer a clean start. Stock sales are more common in larger transactions where contracts, licenses, or permits cannot be easily transferred.\n",{"question":419,"answer":420},"How do you value a small business before making an offer?","The most common method for small businesses is the SDE multiple: calculate the owner's Seller's Discretionary Earnings by adding the owner's salary, personal expenses, and one-time costs back to net income, then multiply by an industry-specific range — typically 2–4× for service businesses and 1.5–3× for retail. Compare your result to recent comparable sales using IBBA transaction data or BizBuySell market reports. Asset-heavy businesses may also be valued on a replacement-cost basis for equipment and inventory.\n",{"question":422,"answer":423},"Can I buy a small business with an SBA loan?","Yes. The SBA 7(a) loan program is specifically designed for business acquisitions and can finance up to 90% of the purchase price for qualifying transactions, with repayment terms up to 10 years and a minimum 10% equity injection from the buyer. The business must meet SBA size standards, demonstrate sufficient cash flow to service the debt, and have been in operation for at least two years in most cases. Pre-qualifying with an SBA preferred lender before you make offers significantly speeds the approval process.\n",{"question":425,"answer":426},"What should be in a Letter of Intent to buy a business?","A Letter of Intent should state the proposed purchase price, deal structure (asset or stock sale), payment terms including any seller financing or earnout component, exclusivity period during which the seller cannot negotiate with other buyers, key due diligence contingencies, and a target closing date. The LOI is typically non-binding except for the exclusivity and confidentiality provisions. It signals serious intent and gives both parties a framework for negotiating the final purchase agreement.\n",{"question":428,"answer":429},"How long does it take to buy a small business?","From first contact to closing, most small business acquisitions take 3–6 months. Sourcing and screening a suitable target can take 1–3 months depending on how active you are in the market. Due diligence runs 4–8 weeks after the LOI is signed. SBA financing adds 45–90 days from application to approval. Buyers who start lender pre-qualification before making offers and who move quickly on diligence close faster.\n",{"question":431,"answer":432},"What is a non-compete agreement in a business acquisition?","A non-compete agreement prevents the seller from opening or joining a competing business in the same industry and geography for a defined period after the sale — typically 2–5 years within a reasonable radius. It protects the buyer's investment in goodwill, customer relationships, and brand by ensuring the seller does not immediately rebuild a competing operation. Non-competes are a standard component of small business purchase agreements and are generally considered the most critical protective clause in the deal.\n",[434,438,442,446,450,454],{"industry":435,"icon_asset_id":436,"specifics":437},"Professional Services","industry-professional-services","Valuation is driven primarily by recurring client relationships and key-person risk — buyer must assess client concentration and whether relationships transfer with the business or the individual owner.",{"industry":439,"icon_asset_id":440,"specifics":441},"Food and Beverage","industry-food-beverage","Lease terms, health department licenses, and equipment condition are critical diligence items; asset values can be significant and franchise re-sale rules may restrict buyers.",{"industry":443,"icon_asset_id":444,"specifics":445},"Retail and E-commerce","industry-retail","Inventory valuation at close, supplier agreement transferability, and seasonal revenue patterns all affect true purchase price and working capital requirements.",{"industry":447,"icon_asset_id":448,"specifics":449},"Construction and Trades","industry-construction","Contractor licensing, bonding, equipment condition, and project backlog are the primary value drivers; buyers must verify that licenses transfer or can be re-obtained under new ownership.",{"industry":451,"icon_asset_id":452,"specifics":453},"SaaS / Technology","industry-saas","Recurring revenue quality (churn rate, contract terms), source code ownership, IP assignment, and technical debt assessment are central to diligence for any software business acquisition.",{"industry":455,"icon_asset_id":456,"specifics":457},"Healthcare","industry-healthtech","Regulatory licenses, payer contracts, credentialing requirements, and HIPAA compliance status must all be verified and confirmed transferable before any acquisition closes.",[459,462,466,470],{"vs":247,"vs_template_id":460,"summary":461},"business-purchase-agreement-D12704","A Business Purchase Agreement is the binding legal contract that executes the sale — it transfers ownership, records final price and terms, and is signed at close. This guide is the buyer-side process framework used before and up to that point. You use this guide to prepare for and negotiate the deal; you sign the Purchase Agreement to close it.",{"vs":463,"vs_template_id":464,"summary":465},"Letter of Intent to Purchase a Business","letter-of-intent-to-purchase-a-business-D13151","A Letter of Intent captures the agreed headline terms — price, structure, exclusivity — at a single point in the process. This guide covers the entire acquisition lifecycle, of which the LOI is one step. Use this guide to prepare the analysis that justifies the terms you put into the LOI.",{"vs":467,"vs_template_id":468,"summary":469},"Business Valuation Report","D{BUSINESS_VALUATION_REPORT_ID}","A Business Valuation Report is a standalone document presenting the formal value conclusion for a specific business, often prepared by a certified valuator. This guide's valuation section gives the buyer a working methodology for arriving at an offer range before engaging a formal valuator for larger or more complex deals.",{"vs":251,"vs_template_id":471,"summary":472},"D{BUSINESS_DUE_DILIGENCE_CHECKLIST_ID}","A Due Diligence Checklist is a focused document listing every document and verification required during the investigation phase. This guide places due diligence in context alongside sourcing, valuation, financing, and closing. Use both together — this guide as the process map, the checklist as the diligence workbook.",{"use_template":474,"template_plus_review":478,"custom_drafted":482},{"best_for":475,"cost":476,"time":477},"First-time buyers and entrepreneurs evaluating straightforward acquisitions under $500K with SBA financing","Free","3–6 months from sourcing to close",{"best_for":479,"cost":480,"time":481},"Deals above $500K, businesses with complex financials, or buyers without prior M&A experience","$2,000–$8,000 (business broker buyer-side advisory or CPA Quality of Earnings review)","3–5 months with advisor support",{"best_for":483,"cost":484,"time":485},"Acquisitions above $2M, regulated industries, multi-location businesses, or deals requiring institutional financing","$10,000–$50,000+ (M&A attorney, QoE accountant, full advisor team)","4–9 months",[487,488],"small-business-valuation-methods-explained","sba-loan-acquisition-financing-guide",[490,248,255,491,259,492,493,494,495,496,497,498],"letter-of-intent-for-purchase-of-computer-equipment-D1148","non-disclosure-agreement-nda-D12692","business-plan-canvas-(one-page)-D12527","business-plan-D12031","independent-contractor-agreement-D160","employment-agreement_at-will-employee-D541","bill-of-sale-D1229","swot-analysis-D12676","strategic-planning-template-D13857",{"emit_how_to":500,"emit_defined_term":500},true,{"primary_folder":117,"secondary_folder":502,"document_type":503,"industry":504,"business_stage":505,"tags":506,"confidence":512},"equity-and-mergers","guide","general","exit",[507,508,509,510,511],"m-and-a","buyer","acquisition","due-diligence","business-purchase",0.85,"\u003Ch2>What is a How To Buy A Small Business guide?\u003C/h2>\n\u003Cp>A \u003Cstrong>How To Buy A Small Business\u003C/strong> guide is a structured operational framework that walks a prospective buyer through every phase of a small business acquisition — from defining what you are looking for and sourcing deal flow, through due diligence, valuation, financing, and closing, to the first 90 days of ownership. Unlike a single transaction document such as a purchase agreement or letter of intent, this guide functions as the master process document that connects every step of the acquisition into a logical, trackable sequence. It gives buyers a repeatable methodology for evaluating deals consistently, identifying risks before they become costly, and closing with confidence.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Buying a business without a structured process is one of the most expensive mistakes a first-time or repeat buyer can make. Deals fall apart — or worse, close at the wrong price with undisclosed liabilities — when buyers skip valuation discipline, start financing late, or accept verbal transition promises instead of written obligations. A single missed due diligence item, such as a non-assignable lease or an undisclosed lawsuit, can erase the entire value of a transaction after closing. This guide prevents those outcomes by giving you a phase-by-phase checklist that professionals use on every deal, regardless of size. It keeps advisors, lenders, and sellers aligned on the same timeline, and it ensures you arrive at close knowing exactly what you are buying, what you are paying, and how the business will run on day one under your ownership.\u003C/p>\n",1781185963900]