Everything you need to know before you call.

Yes — and we often prefer to. When a seller owns the property the business operates out of, we will evaluate the real estate as part of the transaction and in many cases acquire it alongside the business. Owning the real estate simplifies the deal, eliminates uncertainty around future lease terms, and is generally better for both sides in a long-term hold. If you would rather sell the business and keep the real estate, or work out a leaseback arrangement, we can structure around that as well. Real estate is always a separate conversation from the operating business, and we are flexible on how it gets handled.

Most transactions involve a combination of cash at close and, in some cases, a seller note — a portion of the purchase price paid over time at a fixed interest rate. The mix depends on the size of the deal, the financing involved, and what works for both sides. For Legacy deals, the goal is getting as much cash to you at close as possible. For Elevate deals, you are also retaining equity in the business going forward, so the structure looks different. We will walk you through exactly how we are thinking about structure before you sign anything.

Working capital is the cash and near-cash assets — receivables, inventory, prepaid expenses — that keep a business running day to day. Most purchase agreements include a target working capital amount, meaning the seller delivers the business with a baseline level of these assets in place so the new owner can operate from day one. If working capital at close comes in above the target, the seller keeps the difference. If it comes in below, the purchase price adjusts accordingly. This is not a negotiating tactic — it is how every properly structured transaction works. We explain it in plain terms before you sign anything, and we will walk you through it as many times as needed.

This is one of the most common situations we encounter and it does not disqualify a transaction. Most founder-run businesses have some degree of owner dependence — on relationships, institutional knowledge, or day-to-day decision making. What matters is whether that dependence can be reduced over a reasonable transition period. We work through that openly during diligence, structure the transition accordingly, and in many cases ask sellers to stay involved for a period after close to help transfer those relationships and that knowledge to the team.

Most founder-run businesses do not have perfectly organized financials, and that does not disqualify you from a conversation. We have worked through tax returns, bank statements, and owner-adjusted records before. What we need is an honest picture of how the business performs — not a perfectly packaged presentation. If your records need work before a transaction can close, we will tell you what is missing and help you figure out how to get there. Messy books have never killed a deal that was otherwise worth doing.

That is fine. Some of the best conversations we have are with owners who are two or three years away from being ready. Talking early gives you time to understand what a transaction actually looks like, what buyers look for, and what you can do between now and then to put yourself in the best position. There is no pressure and no obligation. If the timing is not right yet, we would rather know you early than meet you for the first time the week you decide to sell.