When beginning the process of buying a business, you should prepare for management meetings. A good way to prepare can involve carefully reading the seller’s offering document, reviewing the potential company’s financials, and conducting research on the seller. While you can work with your M&A intermediary through this process, it is important that you conduct much of the research. The more time you spend on researching the industry, competing companies, and industry trends, the more confident the seller will feel with your offer.
Be sure to ask the seller any and all questions that come to mind regarding their business and industry. Now is the time to do so, and asking questions will let the seller know that you’ve done your homework. If a tour of the facility is possible, pay close attention to the small details such as the cleanliness of the office, mood of the employees, any structural damage to the facility, etc.