Use the following criteria to separate the serious buyers from window-shoppers. (Add up plus points, subtract minus points. The serious buyer will rate a 6 or above.)
Minus Point Factors
- -4 needs outside financing (excluding home equity)
- -4 been looking for 6 months or more
- -3 no available cash
- -3 still working in corporate world
- -2 spouse not supportive of buying a business
- -2 uses a legal pad or clipboard and takes too many notes
- -2 feels leisurely about finding the “just-right” business
- -1 now renting (although has lived in area for some time)
- -1 under 25 or over 62
Plus Point Factors
- +3 does not have a job or has just resigned
- +3 understands that books and records are not the only indicators of value
- +2 has enough money to buy a business
- +2 no dependents
- +2 family member or close relative has been a business owner
- +2 willing to take the time to look without a lot of notice
- +1 location is not a prime consideration
- +1 age 25 to 62
- +1 skilled worker or professional