Buying a business is a tedious time-consuming process that can be greatly enhanced with the use of a licensed professional business intermediary. The Lincoln Group has professional services to help the experienced corporate buyer who wants to grow through acquisition. We also help the first-time individual buyer who wants to purchase and run his own business.
The Buying Process
1. Initial Inquiry: When you first contact us regarding your interests, we answer your questions and ask about your goals, your industry preferences and your timetable. The more The Lincoln Group learns about you the better they can assist you. All discussions between you and our trained staff is kept strictly confidential. When possible, we will arrange for you to meet personally with company President Paul Klinge. We like to meet personally with you because building trust is an important factor in working together to help you reach your goals.
2. Executive Summary: When you contact us regarding a particular business offering, we send you an Executive Summary of the business for sale. This is a brief overview of our Selling Client that gives you information about their business activity, company history, sales and cash flow, employees, and business assets. We also compile a financial summary for the past three years based on the tax returns of the business. We recast these numbers to reflect the EBITDA of the company (earnings before interest, taxes, depreciation and amortization). We also show the owner’s or officer’s salary and other owner perks that are not related to the business operations. This helps the buyer to see the true Cash Flow of the business, sometimes referred to as Discretionary Earnings.
3. On-site Visit: Once you have reviewed the Executive Summary and determine that you want to look closer at the business, we will arrange for an on-site tour.
4. Confidential Business Review: If you live some distance away, we can send you a Confidential Business Review (CBR) that gives complete details on the business, including tax returns and/or financial statements. Sometimes detailed financials and tax information are not disclosed until an offer to purchase has been accepted and the buyer begins the due diligence process.
5. Offer to Purchase, Negotiations, Due Diligence and Closing: Although our fiduciary responsibility is usually with the Selling Client, Paul will help you develop an Offer to Purchase, and will work closely with you through the entire process of negotiations, due diligence and closing. All discussions are held in confidence, allowing you to ask questions and share concerns while keeping your professional distance from the Seller and concentrating on building a lasting relationship with the Seller that will benefit both of you in the future.
Paul Klinge is a Certified Merge & Acquisition Advisor (CM&AA), Certified Business Counselor (CBC), Certified Machinery & Equipment Aprpraiser (CMEA) and licensed Real Estate Broker. Over the years, he has established excellent business relationships with certified equipment appraisers, valuation firms, lending institutions, financial advisors, CPA’s, and attorneys that are experienced in mergers and acquisitions. If you do not have a CPA or attorney he can recommend one for you. The Lincoln Group highly recommends that you seek professional counsel in your business search. Paul uses the “Deal Team” approach in transferring businesses, and coordinates all communication between the Buyer and Seller and their professional advisors. His creativity and resourcefulness are evident in bringing difficult deals to a successful conclusion.
If you are a corporate buyer, The Lincoln Group will provide professional services to assist you in achieving your acquisition goals. When you engage us as your agent, our fiduciary responsibility is to you, the buyer. Confidentiality is strictly maintained, protecting your identity until the proper time. Paul will work closely with your top company executives in developing and executing an acquisition strategy to reach your goals.