Updated: Mar 10
FNBC affiliate offices work with you to get the answers
1. How do I find the business that's right for me?
Each FNBC sales associate has completed the industry's most thorough training program and is ready to help you find a business that fits your interests, leverages your strengths, and suits your choice of life-style. Each FNBC office is a supermarket of privately-held businesses and nationally known franchises. There are always many opportunities for you to choose from and a qualified FNBC associate will assist in researching your choices -- always at your own pace. Our associate can also show you businesses and franchises available in cities and towns nationwide.
2. How will I find a business I want?
You'll want to review your interests and general capabilities with a FNBC sales associate. After that, the sales associate will assist you in choosing companies to investigate further. Once you sign a confidentiality agreement, you will be provided with detailed financial records and other materials on businesses that interest you most.
There are no charges to buyers for these services. After completing your analysis and visiting one or more businesses, you may choose to make an "Offer to Purchase" which will include the price and terms you seek. You will provide an earnest money deposit which is put in escrow and will be credited to the purchase price at closing. Your offer to purchase will include any conditions that concern you. For example, you may want your attorney or accountant to review the business records. Your concerns must be satisfied before the sale is closed. When the seller accepts your offer, the FNBC sales associate really goes to work by helping systematically satisfy each concern (or contingency) you have to ensure the successful closing of the transaction. When all contingencies have been satisfied the next step is to arrange an orderly takeover.
The FNBC licensed office will assist in making sure that the business assets are conveyed properly free and clear of liens and debt. At the closing, you and the Seller will sign a Purchase Agreement; this is the final step and you will then be the proud owner of a new business.
3. How can I be sure that all facts about the business will be disclosed?
Each FNBC licensed office is a "full disclosure" business brokerage, because we believe this is the only fair and honest way to do business. "Full disclosure" means that when a seller lists with our affiliated office, they commit to furnishing:
Business tax returns on the business for at least 3 prior years.
Profit & Loss statements for the current year.
A list of the assets of the business, with the assets conveyed to the buyer in inspectable proper operating condition.
Premises lease information, include term of lease, square footage, and amount of rent.
A fair and equitable purchase price
Training for the buyer (by the seller) at no extra cost to the buyer.
A non compete agreement from the seller.
4. Who will help me find the best financing?
Our licensed offices and sales associates will help you find the financing needed to purchase your business. With thousands of transactions completed by our sales associates since 1982, our organization has gained the respect of bankers and other lenders nationwide.
Once a seller has accepted your offer, our associate will lead you through the entire financing procedure, and help you develop a loan package consisting of the financial records of the business you are buying, along with your own financial records. The associate will assist the buyer in the presentation of this package to several lending institutions and help the buyer research the terms they offer. We will then discuss these results with you so you can decide which loan commitment is best for you. You can then complete the loan application, and our associate will assist you throughout all the remaining details.
Our licensed offices and sales associates provide these financing research services at no cost to the buyer.
"Business Buying & Selling Made Easy"
Together with our licensees, FNBC has arranged thousands of successful transactions since 1982. FNBC maintains a large inventory of FNBC maintains a large inventory of privately-held businesses for sale. We can introduce you to dozens of new franchises with thousands of successful operators. Each FNBC licensed office is a full disclosure broker. We help business buyers arrange financing. There is no charge to buyers for this valuable service.
Member of the Better Business Bureau. Member of the International Business Brokers Association.