Buying a Business - How to buy a business

Know the business inside and out before you buy.

YOUR PACKAGE IS ALL INCLUSIVE

We help you know what questions to ask, get the paperwork right, and secure a faster, smoother buying process.

You won’t have surprises. You will have peace of mind.

I want to know how to buy a business. Talk to an expert for FREE!

Benefits of Your Business Buying Package

Disclosed Liabilities

Get a comprehensive background review of the business you’re thinking about buying. Our thorough checklist makes sure there is a good tax status of the business, there are no unpaid fees or loans, it reviews the actual profits year over year, can predict profitability going forward, and much more. Nothing will be hidden so that you can make an informed decision.

Maintained Profitability

We make sure that the business’ profits are maintained through the sale process and transferred into your hands. Our Non-Disclosure agreements protect you from loosing employees, vendors, and customers during the sale process.

Accurate Asset Valuation

When you’re thinking about buying a business, you need to know about it’s assets. Surge Business Law makes sure there is full asset disclosure so that you can go through the purchasing process informed. We make sure you know about the business’ inventory, accounts, intellectual property, real estate, and any other asset belonging to the business.

Clear and Simple Steps

Surge gives you a clear and simple purchase process that is as thorough as it is simple. You get step-by-step instructions and service with a team of legal and business experts making sure you stay legal and get the business you were hoping for. The process is clear and simple with open communication.

Thorough Paperwork Done for You

We draft the contracts you need custom and review all contracts or agreements that are binding on the business. Document drafting include a Letter of Intent (LOI), Non-Disclosure Agreement (NDA), and any agreements needed. Our team of experienced legal experts meticulously review contract details to make sure you’re informed.

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Know how to buy a business including the risks involved.

What are the risks of buying an existing business?

Losing your investment – Investing and the business not succeeding
Slow success – The business taking longer to succeed then you’d planned
Business abandonment – Customers, vendors, or employees leaving when a new owner takes over
Spending before profiting – Overhead costs especially outweighing profits
Unknown profit history – This means you don’t know what to expect of the business in the future too
Unforeseen liabilities – For example, unpaid taxes, binding contracts, and liens on business assets

We’ve got your back!

You need a plan

A struggling business

Benefit: Low prices
Challenge: 1) Knowing why the business is struggling. 2) Knowing if the struggles can be overcome.

How We Help

We ask questions to help you know what caused the business to decline.
We help you predict what it will take to get the business running profitably.
We create a custom plan to help you get profitable faster.

a Healthy business

Benefit: Less likely to fail
Challenge: 1) You’ll pay more. 2) You’ll likely have reduced income for the a couple years.

How we help

We help you evaluate records to make sure there is consistent upward profitability.
We transition the business with as much confidentiality as possible to maintain profitability for you after acquisition.
We help you get a strategy to grow your profits faster.

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All inclusive business buying package

Here’s what’s included:

50 point checklist to make sure that everything is done properly
Negotiation for the best deal
A Letter of Intent (LOI) drafting to lock in the negotiated terms
Verification of the business and its assets to make sure you there are no suprises
Purchase agreement drafting or reviewing to finalize the deal
Handing the closing which could include paying off loans, transferring real estate, etc.

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Business Owners Love Our Service

Iowa Business Lawyer

4.9

Based on 42 reviews

review us on

Rob Fisher

18:22 05 May 24

Van Nguyen

22:50 29 Apr 24

I had never had any experience as a business owner before. There were many worries and concerns when making the decision to buy a business. I came to Surge Business Law Firm just because I read good reviews from others and hoped this law firm could really help me/us. After our initial consultation, my partners and I decided to choose Surge Business Law Firm to help us set up our business and guide us through the purchasing process. Matt and Jacqueline did tremendous work to help us overcome the obstacles we faced. They were very proactive on checking for any harm to our business and finding ways to protect our business. Matt and Jacqueline had guided us through every small step to resolve all legal issues from the beginning process until closing. If you are new to setting up your business or need a legal assistant for your business, I would recommend Surge Business Law Firm to you. Like us, you can feel secure when choosing Surge Business Law Firm. They are also very friendly, responsive and fun to work with 🙂

Minh Hoàng Phạm

21:46 29 Feb 24

Mattew is one of the best that I have met . He took care of my LLX set up very easy.

Stephanie Johnson

01:02 24 Feb 24

As a lawyer myself, I never thought I’d say this, but even lawyers need a good lawyer. Especially when it comes to the wild world of tech startups. That’s where Matt Nuzum comes in.I was drowning in legal complexities and bad code, trying to salvage my legal tech startup. Developers had taken advantage, I’d lost money, and my dream seemed lost. But then I found Matt.He’s not just a lawyer; he’s a tech-savvy lawyer. He understood my situation, spoke my language (both legal and tech!), and offered clear, actionable advice. He didn’t just tell me what I couldn’t do; he helped me find a way forward.His guidance was invaluable. Matt wasn’t just professional, he was genuinely invested in my success. He took the time to understand my goals, my challenges, and my anxieties. He made me feel heard and supported, which is priceless in the chaotic world of startups.So, if you’re a lawyer, entrepreneur, or anyone navigating the intersection of technology and business, do yourself a favor and call Matt Nuzum. You won’t regret it!

Christy Schlothauer

13:52 22 Feb 24

Brett Roberts

22:52 20 Feb 24

Highly recommend Matt and the rest of the team. Consice, prompt and professional all the way. You won’t be disappointed contacting them.

Joshua Wilke

20:48 18 Jan 24

I am new to realestate investing and had never talked to a lawyer before. Matt was very approchable and extremely helpful with a resent eviction we had to do. He was very generous with his time and knowledge. I would highly recommmend Matt.

Andrea Stewart

14:47 13 Jan 24

Aaron Pieper

03:13 13 Jan 24

Responsive, servant-hearted attorney!

Isaiah Wright

00:04 13 Jan 24

Michael Klenk

19:05 13 Dec 23

Matt set up LLCs for our rental properties – from the initial planning meeting full of our questions to getting the final docs, it couldn’t have been easier. Good communication, fair pieces, expert help. He’s now our go-to for everything legal for our rental jbusiness. Thanks Matt!

Dean Stephenson

15:09 11 Oct 23

Matt listens well and communicates well. He gets on your level and breaks things down to help you understand. He truly wants to help your business succeed.

Elena Gurevich

15:50 18 Mar 23

Matthew is extremely knowledgeable and professional. I had the pleasure of working with him on some business questions and he took the time to explain everything in detail making sure I understood everything before we moved forward. I would highly recommend Matthew to anyone looking for a great attorney.

Crystal Underwood

23:53 30 Jan 23

I’m not even under contract (yet) and Matt has been absolutely AMAZING! He has taken the time to take phone calls, offer guidance, and follows up at just the right times. I can’t say enough fantastic things about Matt and his service. We are beyond thankful and feel at ease knowing Matt is caring for us and our small business.

Why Should you choose Surge?

Can’t afford a full payment? We making it easy.

If you can’t afford a full payment, no problem. Get on a payment plan.

See Pricing

clear and simple pricing

Business Buying Package Pricing

0.85% of the transaction value with an $1,800 minimum.

Other attorneys aren’t always giving you clear and simple pricing. They may give hourly pricing, but there’s no guarantee how much you’ll be spending. Surge is different. We give you flat-rate attorney pricing so that you know much you’ll be spending from the start.

We can move fast

We’re ready to help you close this deal, and kickoff your business goals faster.

We keep everyone safe

Sellers will sometimes do things that will hurt the value of the business during the transaction process. That can lead to law suites and all kinds of problems. Our goals is to keep everyone safe.

We Make sure there are no Surprises

Hidden fees, unpaid loans, internal problems, etc. sometimes surprise business buyers. If you know about them, you might change your purchase decision. We make sure you know about the liabilities involved before you buy a business.

how much does it cost to buy a business?

Business Buying Package

0.85% of the transaction value with a $1,800 minimum

Example Pricing

$75,000 sale price – retail shop or service business, no loans or liens, no real estate, asset purchase
- $1,800 legal fees for business transfer
- $360/mo x 5 month Launch 360 new business package
$2,000,000 sale price – small manufacturing business, SBA loan payoff, includes $1M real estate, asset purchase
- $8,5000 legal fees for business transfer
- $1,800 real estate transfer fee
$350,000 sale price – franchise purchase, no loans or liens, no real estate, asset purchase
- $2,975 legal fees for business transfer
- $945 Franchise document review
- $360/mo x 5 month Launch 360 business package

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Frequently
Asked
Questions

Do you have other questions? Contact us! We want to help you buy your business.

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How to buy a business:

Negotiate a good deal and getting the letter of intent (LOI) in writing
Get a confidentiality agreement in place (NDA)
Do your “do diligence”. This is researching the business’s assets and liabilities to clearly spell out which assets are included or excluded. The assets included in the sale will be put in the final purchase agreement. The deal can then be closed.

We help you know if a business will be able to keep it’s doors open after you acquire it. Because we’ve seen a lot of business acquisitions both close and fail, we can help you identify problems now. We alert you to warning signs of things that cause businesses to fail, even years later, so that you don’t pay for a bad deal.
We also make sure all agreements are legally sound and enforceable.

You could have “surprise” liabilities like unpaid taxes, binding contracts, and liens on business assets. We see this too often.
You may not know if the business is profitable because of an unknown or unkept profit history. This is often the case with small businesses.
You may lose business after acquiring. Customers, vendors, or employees sometimes abandon the business when a new owner takes over.
You may have slower success than you planned.
You could lose your investment in the business. After acquisition, the business may not succeed at all.

If you want a transparent purchasing process and a strategy to help your business grow profits after you acquire it, contact Surge.

If you want to buyout a business partner, you’ll purchase their share in the business ownership. The process usually starts with agreeing on the value of the business and determining the partner’s share. Once a price is set, you’ll be responsible to pay the purchase price. The transaction is formalized with a legal agreement to transfer the ownership interest, ensuring everything is properly documented.

Surge Business Law works to make partnership buyouts smooth so that there is no hurt feelings, miscommunication, or missed opportunities. Schedule with us for a free consultation.

Don’t miss this. A business valuation is essential for buyers.

Because a valuation provides an objective assessment of a business’s worth and assets – including all inventory, accounts, intellectual property, and real estate – it helps you as the business buyer know what to pay for the business.
Valuations also give a clear picture of the business’s financial health by analyzing assets, revenue, profits, and potential risks.
You can get a better idea of the long-term viability of the business through a valuation as well. It will help you identify future growth opportunities, and negotiate better terms based on factual data.

Overall, having a professional valuation reduces the chances of overpaying and helps make informed decisions during the purchase process. Before getting deep into the purchasing process, contact us. Your first consultation is free!

Seller financing is when the seller of a business provides a loan to the buyer. This allows the to be purchased over time instead of requiring full payment upfront. Typically, the buyer makes a down payment, and the remaining balance is paid in installments, often with interest. Seller financing can be a helpful alternative when traditional bank loans.

Wondering if seller financing is an option for your business purchase? Contact us today for business and legal advice that is easy to understand and use. Your first consultation is free!

Buying a business with no money sounds impossible! But it isn’t. There are some creative financing options available to you:

Borrow from yourself
Look into Home Equity Loans
Use Friends and Family Funding (FFF)se Friends and Family Funding (FFF)
Checkout SBA Loans
Use seller financing

Check out more little to no-cost financing options!

This type of business purchase is a clever idea to get great team working for you. An acquihire is when a company purchases another business primarily to acquire its employees, rather than its products or assets. This type of business purchase is often driven by the need for talented staff, and the employees from the acquired company are integrated into the buyer’s organization. Remember that in an acquihire, the acquired company’s products or other assets may not be the main focus. It’s more about securing valuable talent.

If you need to hire good employees and are considering an acquihire, call us. Your first meeting is free. We love helping businesses think through the best options to make your business surge fast and safe.

Buying or Selling a Business

If you’re serious about buying a business that will grow profitable faster, start by knowing the facts now and having a plan for then. Contact us today!

Know the risk. have a plan.

Talk to an Expert