Partner with Purpose
After meeting with the current owners and understanding their motivations, aspirations, and objectives for the business they've established, it's time to put plans into action and document them. At this stage, we're concentrating on several key objectives.
The primary objective is to draft a letter of intent to purchase the business, typically through an asset sale. This preliminary, non-binding agreement outlines the offer's price and terms, subject to the current owners' approval. It accounts for variable factors like inventory levels and property values, which will be finalized at the closing of the definitive agreement. The agreement also specifies the duration of our fundraising campaign to finance the purchase, during which the owners may consider other proposals.
Additionally, we will formulate a limited marketing agreement. This contract permits us to utilize select information for promoting the company during our fundraising initiatives, ultimately enabling us, along with investors, employees, and community members, to acquire the business.
The marketing agreement will encompass essential details for advertising the business across various platforms. While not all information is mandatory, it may include:
- Business Name, Origin, and Narrative
- Business Overview, encompassing products and services, target demographic, and potential for expansion
- Business Locale and an outline of the communities it serves
- Employee Roster, summaries of staff expertise, and personal anecdotes from employees willing to share
- Financial records from the past three years, including Profit & Loss statements, Tax Returns, and Balance Sheets
- Any Logos, images of business operations, and materials previously utilized in marketing efforts
This marketing agreement will specify the use of these materials in our campaigns and will address any concerns the current owners may have.
Any other agreements such as a Letter of Intent, and Investor Agreements and so on are completed during this phase.
If you are interested in learning more about our process or would like to refer a current business, fill out the contact form below.
Our Process
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Find Local Business
More about SearchThe pursuit of businesses that align with our criteria is an ongoing process
requiring considerable focus, time, and energy. The dynamic nature .... -
Meet and Learn
More about MeetWhen we identify a business that requires assistance, we are eager to meet with them. We dedicate time to understanding the ....
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Partner for Purpose
More about PartnershipAfter meeting with the current owners and understanding their motivations, aspirations, and objectives for ....
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Start Fundraising
More about FundingOur business model focuses on keeping businesses and people active within the community while minimizing debt. To ....
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Acquire and Grow
More about GrowthThe acquisition phase includes all necessary steps such as due diligence, establishing a new legal structure for the company, asset .....
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Rewards
More about RewardsAs our business expands and thrives, we distribute contributions to the community and our backers in line with the campaign and their ....