Businesses are bought and sold everyday. Each transaction is unique, yet there are fundamental elements to the purchase process that are common. The purpose of this article is to highlight the sequential components of a typical business purchase plan. Whether you are a first time business buyer, or a veteran business acquisition specialist, it is imperative to understand the evolution and eventual structure of a business purchase transaction.

Purchasing a business is an iterative process. There are logical and cost effective steps that need to sequentially followed to maximize eventual purchase success and minimize cost. For the business buyer the ultimate goal is to find and purchase a viable business for a fair market price, acquired via most favorable purchase terms. Following these sequential steps will get you there:

1) DEVELOP YOUR PURCHASE CRITERIA:

Define all relevant criteria to qualify a business for purchase

2) ESTABLISH YOUR