: 3 years of tax returns, P&L statements, and bank statements to reconcile revenue.
: Choose two or three industries that match your existing skills or network. Service businesses, light manufacturing, and home services are often recommended for first-timers because their financials are easier to read. how to buy a small business
Once you sign a , you enter a "due diligence" period (typically 60-90 days) to verify the seller's claims. You should request: : 3 years of tax returns, P&L statements,
: This is when the seller carries a note for part of the price (e.g., 10–20%), paid back over several years. It signals the seller's confidence that the business will remain profitable after the handoff. 4. Due Diligence Checklist Once you sign a , you enter a
Before making an offer, you must determine what the business is actually worth.
Build a "deal pipeline" from multiple sources simultaneously: