Negotiating a deal

Properly drafted, an offer to purchase leaves plenty of room for escape if things aren't what they appear to be.

Don't be afraid to make an offer when the business looks attractive; negotiations can't begin without a starting point.

When preparing to buy a business, make sure you know both the high and low ends of what you are willing to spend. Then you will feel more comfortable when the negotiating begins.

When buying a business consider the opportunity you are gaining weighed against the price that is being asked. The balance must be acceptable to you.

Successful negotiating is a give-and-take process, never a my-way-or-the-highway proposition.

Getting an acceptable letter of intent is a conversation changer in the sales process. It is a time to be both patient and open-minded as specific deal terms will now be discussed.

When buying a business you are sometimes negotiating two deals: one with the seller and one with your new landlord to be. Get educated on commercial leasing issues.

Successful negotiating is a give-and-take process, never a my-way-or-the-highway proposition.

To make buying a business a win-win, ask questions and listen carefully to the sellers motivations.

When preparing to buy a business, make sure you know both the high and low ends of what you are willing to spend. Then you will feel more comfortable when the negotiating begins.