If the business passes initial screening, you must determine its worth and propose terms.

Meet the owner to understand why they are selling (e.g., retirement, health issues) and see if the business truly matches the reported complexity.

Sellers will require a signed NDA before sharing sensitive financial or customer data. 3. Valuation and the Letter of Intent (LOI)

Find opportunities through online marketplaces (like BizBuySell or Flippa ), business brokers, or direct outreach to owners. 2. Evaluation and Initial Contact

Review the Confidential Information Memorandum (CIM), which acts as a marketing "sales pitch" for the business.

Decide if you want to be a hands-on operator or a passive owner hiring a general manager.

Before looking at listings, define your "buy-box"—the specific parameters of the company you want to acquire.

Before You Go... Check These Out!