FAQ: Buying a Business

Our primary role is representing sellers. When you engage with us as a buyer, you're working with the seller's broker. That means our fiduciary duty runs to the seller — but we manage a process that is fair, transparent, and honest to both parties. We don't misrepresent businesses, and we don't facilitate deals that don't make sense for the buyer.

Use our buyer registration form to describe your acquisition criteria, industry preference, revenue range, and financing capability. We'll reach out when an opportunity that matches your profile becomes available. All registrations are held in strict confidence.

Most lower middle market acquisitions use a combination of buyer equity, seller financing (a seller note), and institutional debt — most commonly an SBA 7(a) loan for deals up to $5M purchase price. Larger deals use conventional commercial lending or equity-backed capital. We work with buyers using all financing structures.

From initial registration to close typically ranges from 6–12 months. Defining your criteria and getting financing pre-qualified can be done in parallel with reviewing opportunities. Once an LOI is signed, due diligence and close typically take 60–120 days.

Due diligence is your systematic investigation of the business before close — financial, operational, legal, and customer review. It typically takes 45–90 days. We provide organized access to documentation and help facilitate questions between buyer advisors and the seller.

Not until late in due diligence — and only with careful coordination. Speaking with customers or employees without proper planning risks the confidentiality of the transaction and can damage the business being acquired. We manage this process carefully when key customer or employee conversations are necessary.

An earnout is a contingent payment to the seller based on the business's future performance after close. They're common when buyer and seller disagree on forward earnings. Earnouts can work well when metrics are clear, measurement periods are defined, and the buyer has operational control. They can become contentious when terms are vague or the seller remains involved. Engage a transaction attorney to review earnout terms carefully before signing.

Focus on: cash flow quality (is the EBITDA real and reproducible?), customer concentration (what if the top account leaves?), owner dependence (can the business run without the current owner?), team stability, and forward capex requirements. Read our due diligence guide for a full checklist.

When we identify a business that matches your criteria, you'll sign a mutual NDA before receiving the Confidential Information Memorandum with the business's identity and detailed financials. We verify buyer identity and financial capability before NDA execution to protect our sellers.