Who does what when you buy a business
Buying a small business brings a lot of people to the table. Each one has a job, and each one is paid by someone. Know who works for whom, and when they come in, before you sign anything.
The seller
Who they are: the owner selling the business. They know it better than anyone, and they want the best price and the cleanest exit.
When they come in: from the start. You meet them, see the business and ask for the numbers. Be friendly, and check everything they tell you.
The business broker or listing agent
Who they are: the person who markets the business and runs the sale. They are usually hired and paid by the seller, often when the deal closes. They can be helpful and honest, but their job is to get the business sold.
When they come in: usually first. They post the listing, share the first information and pass offers back and forth.
The buyer's lawyer
Who they are: your lawyer, working for you. They review and draft the offer and the purchase agreement, check what you are actually buying, and close the deal.
When they come in: before you sign an offer, not after. If a paper in front of you is binding, a lawyer should see it first.
The accountant who checks the books
Who they are: an accountant you hire to look at the financial records, the tax side and how the purchase should be set up.
When they come in: once you are serious about one business and can get the real records. Their work helps you decide if the price makes sense.
The lender
Who they are: whoever lends you money for the purchase, if you borrow. They look at the business, the price and you. They want to be repaid. They do not decide for you whether it is a good buy.
When they come in: early enough that you know what you can borrow before you make an offer, and again before closing.
The landlord
Who they are: the owner of the space the business uses, if it rents. The lease can matter as much as the business itself. No lease, no business.
When they come in: before you commit. Find out how long is left on the lease, whether it can be passed to you, and whether the landlord will renew.
Where I fit
I am the independent buyer-side advisor. I work for you, not the seller or the broker. I am paid only by you. No commission, no success fee, no referral fee.
I help you decide before you bring in the others, and alongside them once you do. We look at whether the business makes sense, what the numbers really say, and what to ask. I do not replace your lawyer or accountant, and I will tell you when you need one.
When I come in: as early as you like. The best time is when you first find a business you are excited about, before you make an offer.
Where to start
Book a Clarity Session to talk through the business in front of you, or start with the free Buyer's Red-Flag Checklist.