Frequently Asked Questions
What Information is needed to start?
Only basic information is required to post your business. All we need is:
Description of your business, industry and location
Key financial details such as revenue, profit, and assets.
Reason for selling
Asking price, negotiable terms, and financing options, as well as any pertinent legal or operational details like permits, leases, or pending issues.
Basic contact information for interested parties to reach out.
How do I sign up on Handoff.com?
Signing up is simple:
Visit the sign up page
Enter required information
Verify email address
Answer additional questions
Choose to upgrade membership
Shop for your next adventure
How do I get Financing?
The 2 ways we recommend to get financing are:
SBA Loan
Visit SBA Site
Fill out required information
Our Preferred Lender ____
Get pre-qualified for financing
Proof of funds
Agree to soft credit check
Finance your business through our trusted partner, ______. _______ provides adaptable, non-dilutive acquisition funding with a turnaround time as short as 48 hours. You are not required to provide any personal guarantees, and there are no prepayment penalties involved.
Furthermore, you have the option to apply for acquisition financing prior to locating your business. A funding support letter from ______ enables access to larger, more lucrative acquisitions on Handoff.com
What am I getting by using Handoff?
When you use Handoff you are paying for:
Better pricing
Marketing
Professional Help
Ease of use
List once guarantee
Media Focused outreach
With access to all these features and more, our small fee will be well worth the price. Unbeatable Pricing: Unlock Savings Like Never Before
How does due diligence work?
Due diligence is the essential process in acquisitions where a potential buyer meticulously examines your business for any undisclosed issues or unforeseen risks. Though it may seem daunting, due diligence serves as a risk management strategy, commencing upon the buyer's initial interest and concluding upon legal closure.
As the acquisition progresses, expect an intensification of due diligence inquiries, with the buyer seeking deeper insights into various aspects of your business and requiring substantiating evidence for your responses. The culmination of due diligence typically occurs after the execution of a letter of intent, followed by the mutual agreement on an asset purchase agreement, solidifying the commitment to the agreed-upon terms and price.
How to make an offer?
1. Create a Letter of Intent (LOI)
Key components to include in your LOI are:
Offer price
Terms and conditions
Validity period
2. Sign and dispatch your LOI:
Prior to sending your LOI, ensure:
Accurate startup and founder details
Consultation with legal counsel if necessary.
Proper signing and dating
3. Negotiate the LOI
Typically, the purchase price comprises various components, including:
Cash (due upon closing)
Earn-out or holdback (dependent on performance)
Seller financing (dispersed over time).
How do I create a Letter of Intent (LOI)?
Crafting, executing, and delivering your Letter of Intent (LOI) is made simple with our LOI builder tool. If you prefer to design your own, they will be accepted as well. A non-disclosure agreement (NDA) or exclusivity clause will be applied as well.
Are NDA's required?
Yes, they are required. NDA's are automatically in the cycle of buying a business. They are required to be filled out to start the evaluation process.
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