Buying
Buying a business, step by step
From clear criteria to your first day in charge.
The buyer journey
Seven steps to owning a business
Timeframes are rough guides only.
- 1
Define what you want a week or two
Industry, size, location, your role and your budget. Clear criteria save everyone time.
- 2
Line up financing a few weeks
Talk to your bank early. BDC acquisition financing and the federal Canada Small Business Financing Program are common starting points.
- 3
Search often months
Listings, direct approaches and introductions. Send me your criteria and I’ll watch for a fit.
- 4
Sign an NDA and review a few weeks
Read the information package, meet the owner, and test whether you really want to run this business.
- 5
Make an offer a few weeks
Price, structure, conditions and the owner’s transition role in a letter of intent (LOI).
- 6
Due diligence often 30 to 90 days
Accountant, lawyer and lender review the books, contracts, staff and lease. Check BC Registry records too.
- 7
Close and take over weeks to months
Sign, fund, assign the lease, and learn the business alongside the seller.
Be the buyer owners choose
Owners care who they sell to
Show your experience, your financing and your plans for staff. A respectful, prepared buyer often wins over a slightly higher offer.
