63. Buying a Business: Making the Offer

Brad Sugars discusses how to make an offer when buying a business – what the offer is, how to value the business and how to construct an offer. He outlines how to determine for yourself how a seller has arrived at a sale price, and how to present your own offer in a way that is backed up by facts and numbers you have uncovered in your due diligence, especially in terms of existing assets and cashflow. He looks at a “low ball” strategy that works well in terms of time constraints, and other strategies that work in terms of owners who don’t have those constraints, but have other needs that must be met.