How to buy a small business, from first look to close

Where do you start?

Start with the cash you can put in, and the payment the business has to cover. A price you like is not a price you can close. Work the cash you can inject and the earnings the business would need to cover a loan before you fall in love with a listing. The buying-power and affordability calculators are estimates. A lender still makes the credit decision.

Try buying power and affordability, then browse businesses for sale.

What do you get to see before an NDA?

The public listing: industry, place, asking price, and the revenue figure the seller chose to show. The legal name, the customer list, and the full financials stay behind an NDA. That is the point of the listing. Read the public page, decide the business is in range, then sign. Asking for the tax returns before the NDA is how buyers get told no.

What happens after you sign?

You read the financials, ask questions, and either walk or make an offer. The offer is a letter of intent: price, what is included, and the time you need for diligence. It is not the purchase agreement. Diligence is where you check the books, the lease, the liens, and whether the earnings survive the owner leaving.

How does the money move at the end?

It sits in escrow until both sides confirm the closing conditions. On Biz Checkout the offer, the purchase agreement, and closing run in The Checkout. Funds stay in escrow until the conditions you agreed are met. That is the whole reason the last step is not a wire to a stranger.

The longer version of the path is on how buying works.