*********CALL me at 929-290-8609 and I will answer all your questions about Buying a business for your E2 visa
I speak English and Espaniol
How do I purchase a business with my for my E2 visa?
How do I know the business is making the money the owner says?
What is the process of buying a business for an E2 visa?
How much of a deposit am I required to pur down to purchas the business?
How do i prevent myself from being robbed, scammed, taken advantage of when buying a business for an E2 visa
What is Due Diligence when buying a business for an E2 Visa?
Due Diligence is the process of investigating the business you are interested in purchasing.
When conducting your business search I recommend using different levels of due diligence as you are narrowing your search. Use progressively deeper levels of due diligence as you find yourself getting closer to a finding the business that you are interested in buying.
For example you start looking at the advertisements of the businesses for sale. You make a list of the type of business that matches your interests, your lifestyle, your financial needs, the area you want to live in and the number of the owners work hours per week and also is E2 compliant.
The process of investigating a business is expensive and time consuming so you don’t want to waste time on businesses that don’t meet your criteria. Create a separate questionnaire sheet for each seller see example bellow:
Telephone number ____________________
Type of business ________________________________
Location of business _______________________________
Price of Business __________________________________
Annual Sales ______________________________________
Annual Business Income ___________________________________
Owners W-2 Salary income _________________________________
Number of W-2 Employees _________________________________
Amount Each Employee gets paid?
What are the roles of each employee?
How many hours does each employee work?
Are any of the employees relatives?
Are any employees owners?
How many hours per week does the owner work? _____________
Does the owner have another job outside of the business?__________
Do a google search on the owner
Employee 1 ____________________________
Employee 2 ____________________________
Employee 3 _____________________________
Employee 4 _______________________________
Assets included in the Sale ___________________________
If the business is renting a storefront, office, warehouse or other assets
Do you have a lease? ____________________
What is the rent stated in the lease? ________________ What are the annual increases?
How many years are remaining on the lease? _____________
Is there a renewal clause? ________________ If so for how many years are on the lease renewal? _____________
Does the renewal clause state the monthly rent and the annual increases? __________
If yes what I the new rent and annual increase? ________________________________
Are you paying the full amount in the lease or has the landlord agreed to accept a different amount? _____________________________
Do a google search on the owner: verify employment, home address, observations ________________________________
Google Search on business (Print out customer reviews and make a file) type the business name and type the word scam net to it):
Run a dun and Bradstreet Report on the Business
If possible and you have the sellers permission ask if you can run a credit report on the owner.
(Even if the owner refuses to allow you too run his credit report it tells gives you information about his situation which can be used to see if he is telling the truth about his income. Also you ability to guess the owners financial situation will might give you negotiating power later in the purchase negotiations.
Do you have tax returns that are going to match the sales, income and payroll that you stated in your sales ad? __________________________
If the business is open to the public such as a restaurant, gasoline station or car wash and the owner gave you acceptable answers to the above questions I would go and spend time sitting in the establishment or outside if the owners does not permit you to sit inside. I would use the following type of questionnaire:
Telephone number ____________________
Type of business ________________________________
Date of observation _____________________________
Opening time ______________ Actual time employees opened business _______
Hour 1 Clients ______________________________________
Put a mark on the sheet or give each customer a number and mark the amount they spent and the products they purchased.
Hour 2 Clients ______________________________________
Hour 3 Clients _______________________________________
This information can be used to cross check claims the owner makes and to verify the reasonableness of the sales claims reasonableness. Also the observer may notice problems in the business that can be corrected with new management such as over or understaffing.
The customary practice in business that have a sales price for less than 1 million is that the owner or broker gives the client verbal or written representations of the business sales and expenses but does not allow any type of invasive investigation until the buyer puts an amount in escrow account and signs a purchase agreement. The deposit amount is negotiable, but the usual for smaller businesses is 10% of sales price deposited into an escrow account.
A purchase agreement, also called a sales contract or a purchase contract, states the terms of the transaction for purchasing specific business. It lists the deposit, purchase price and the date the buyer must purchase the business. Also it lists due diligence items that must be met, and the conditions under which the buyer may break the contract and have his deposit returned.
Most contracts in the small business market make it relatively easy for the buyer to receive his deposit, however the terms of the contract state specifically the terms so a seller can require that the buyer forfeit his deposit if he does not purchase the business, if it passes the due diligence procedures specified in the purchase agreement.
Thomas McGovern, MBA, CVA
Qualifications of the Author
Certified Business Analyst, Business Appraiser, Business Valuator certified by the NACVA, National Assoiation of Certified Valuators and Analysts
President of Advantage Brokerage, Inc. for over 17 years
Business Broker as a Sellers Representative
Business Broker as a Buyers Representative
Representative for E2 Buyers
Due Diligence Evaluator for E2 Buyers
Thomas McGovern, MBA, CVA
Augustine Sampa, Director
Notary, Notary Public, Contractor Insurance, Corporate Formation, Advertising Agency, Marketing plans, Advertising plan, BUSINESS INSURANCE NYC, (718) 558-5532 WE OPEN CORPORATIONS, INCOME TAX PREPARATION, INCORORATION, NOTARY, NEW YORK CITY BUSINESS INSURANCE, BUSINESS PLANS, COMMERCIAL INSURANCE, BUSINESS OWNER INSURANCE,TAX IDENTIFICATION NUMBERS, SALES TAX, PAYROLL TAX. LOW COST BUSINESS INSURANCE, SMALL BUSINESS INSURANCE, FREE QUOTE, 1040, IT-201, 941, 1120, 1120S, CT3M/4M, OPENING SMALL BUSINESS IN QUEENS NY, INCORPORATING IN NEW YORK STATE, WORKERS COMPENSATION INSURANCE, PENALTIES REDUCTION, ELIMINATE FINES PENALTIES, SMALL BUSINESS INSURANCE, INCORPORATE FILING RECEIPT, EIN NUMBERS, EMPLOYER IDENTIFICATION NUMBERS, ITIN NUMBERS, INDIVIDUAL TAX IDENTIFICATION NUMBERS, 24 HOUR NOTARY SERVICE, NOTARY, NOTARY PUBLIC, TYPES OF INSURANCE, TYPES OF TAXES IN NYC, CONTRACTOR BONDS, CONSTRUCTION BONDS, BUSINESS PERMITS, CONTRACTOR INSURANCE, BUILDING PERMITS, BUSINESS LICENSES AND PERMITS NEW YORK CITY, JAMAICA QUEENS, OPENNING A STORE IN NYC, BUSINESS CERTIFICATE DBA, SALES TAX CERTIFICATE, CERTIFICATE OF AUTHORITY, GUARNISHMENTS, PROBLEMS SOLVED, LEINS, LEVIES, JUDGEMENTS, BOOKKEEPER, BOOKKEEPING, ACCOUNTANT, ACCOUNTANTS, CPA NEEDED, C.P.A. NEEDED, CERTIFIED PUBLIC ACCOUNTANT WANTED, TAX ACCOUNTANT, RAPID REFUND, FAST REFUND, BIG REFUNDS, INCOME TAX REFUNDS, RAL, REFUND ANTICIPATION LOANS, SURETY BONDS, HOME IMPROVEMENT CONTRACTORTS LICENSE TEST, HOME IMPROVEMENT CONTRACTORS INSURANCE, NASSAU COUNTY, KINGS COUNTY, NEW YORK CITY. BROOKYLN, HOW TO START A BUISNESS IN NEW YORK CITY ?, STARTING A BUSINESS IN NYC, PAYROLL SERVICE, INCOME TAX DUE DATES, FILINGS, TAX DUE DATES, TAX MAILING ADDRESS, INCOME TAX MAILING ADDRESS, NYC Department of Health and mental hygiene food service provider applications WC/DB-100, FLUSHING, CAMBRIA HEIGHTS, QUEENS VILLAGE, ST. ALBANS, HOLLIS, SPRINGFIELD GARDENS, LAURELTON, RICHMOND HILL, SOUTH OZONE PARK, WOODHAVE, REGO PARK, FOREST HILLS, CORONA, HOWARD BEACH, BELLROSE, BAYSIDE, FOREST HILLS, JACKSON HEIGHTS, JAMAICA, HOW DO I OPEN A BUSINESS IN NYC ? BUSINESS TAXES
We service the following areas: Queens, Brooklyn, Manahattan, Bronx, Staten Island, Kings County, Richmond County, Nassua County, Suffolk county,Astoria, Ditmars, Steinway, Bayside, Bay Terrace, Oakland Gardens, Belle Harbor, Bellerose. Breezy Point. Broad Channel. Cambria Heights. College Point. Corona. Douglaston, Douglas Manor, East Elmhurst, Elmhurst, Far Rockaway, Arverne, Bayswater, Edgemere, Flushing, Auburndale, Kew Gardens Hills, Floral Park, Forest Hills, Forest Hills Gardens, Fresh Meadows, Glendale, Glen Oaks, Hollis, Hollis Hills, Holliswood, Howard Beach, Lindenwood, Jackson Heights, Jamaica, Briarwood, Jamaica Estates, Jamaica Hills, South Jamaica, Kew Gardens, Laurelton, Little Neck, Long Island City, Hunters Point, Ravenswood, Queensbridge, Maspeth, Middle Village, New Hyde Park, Ozone Park, Queens Village, Rego Park, LeFrak City, Richmond Hill, Ridgewood, Rockaway Beach, Rosedale, Saint Albans, Springfield Gardens, South Ozone Park, Sunnyside, Whitestone, Beechhurst, Malba, Woodhaven, Woodside--- All of New York State
Queens Neighborhood with zip codes
Arverne , 11692, Astoria Heights , 11370 , Astoria , 11102, 11103 , 11105 , Auburndale , 11358, Bay Terrace , 11360 Bayside , 11359, 11360, 11361 Bayswater , 11691 Beechhurst , 11357 Bellaire , 11427, 11428, 11429
Belle Harbor , 11694 Bellerose , 11426 Blissville , 11101 Breezy Point , 11697 Briarwood , 11435 Broad Channel , 11693 Cambria Heights , 11411 College Point , 11356 Corona , 11368 Ditmars , 11005, 11370 Douglaston , 11362, 11363 , Dutch Kills , 11101 , East Elmhurst , 11369, 11370, 11371 , Edgemere , 11690 , Elmhurst , 11373 , Far Rockaway , 11096, 11690, 11691, 11692, 11693, 11694, 11695, 11697 , Floral Park , 11001, 11002, 11003, 11004, 11005 , Flushing , 11351, 11352, 11354, 11355, 11356, 11357, 11358, 11359, 11360, 11361, 11362, 11363, 11364, 11365, 11366, 11367, 11368, 11369, 11370, 11371, 11372, 11373, 11374, 11375, 11377, 11378, 11379, 11380, 11381, 11385, 11386, 11390 , Forest Hills Gardens , 11375 , Forest Hills , 11375
Fresh Meadows , 11365, 11366 , Fresh Pond , 11385 , Glen Oaks , 11004 , Glendale , 11385 , Hammels , 11693
Hillcrest , 11365, 11366 , Hollis Hills , 11427 , Hollis , 11423 , Holliswood , 11423 , Howard Beach , 11414
Hunters Point , 11101 , Jackson Heights , 11372, 11370 , Jamaica , 11405, 11411, 11412, 11413, 11414, 11415, 11416, 11417, 11418, 11419, 11420, 11421, 11422, 11423, 11424, 11425, 11426, 11427, 11428, 11429, 11430, 11431, 11432, 11433, 11434, 11435, 11436, 11439, 11451, 11499 , Jamaica Estates , 11423, 11432
Jamaica Hills , 11432 , Kew Gardens Hills , 11367 , Kew Gardens , 11415, 11418, 11424 , Laurelton , 11413
LeFrak City , 11368 , Linden Hill , 11354 , Lindenwood , 11414 , Long Island City , 11101, 11102, 11103, 11104, 11105, 11106, 11109 , Little Neck , 11362, 11363 , Malba , 11357 , Maspeth , 11378 , Meadowmere , 11422
Middle Village , 11379 , Murray Hill , 11358 , Neponsit , 11694 , New Hyde Park , 11040, 11042 , North Shore Towers , 11005 , Oakland Gardens , 11364 , Ozone Park , 11416, 11417 , Pomonok , 11365 , Queens Village , 11427, 11428, 11429 , Queensboro Hill , 11355 , Queensbridge , 11101 , Ravenswood , 11106 , Rego Park , 11374 , Richmond Hill , 11418 , Ridgewood , 11385, 11386 , Rochdale Village , 11434 , Rockaway Beach , 11693
Rockaway Park , 11694 , Rosedale , 11422 , Roxbury , 11697 , Saint Albans , 11412 , South Jamaica , 11435, 11433, 11436, 11434 , South Ozone Park , 11420, 11436 , Springfield Gardens , 11413 , Sunnyside Gardens , 11104 , Sunnyside , 11104 , Tudor Village , 11417 , Whitestone , 11357 , Willets Point , 11368 , Woodhaven , 11421 , Woodside , 11377 ,
Brooklyn Neighborhood with zip codes
Albemarle-Kenmore Terrace, 11226, Bath Beach 11214, Bay Ridge, 11209, Bedford Stuyvesant, 11216, Bensonhurst, 11214, Bergen Beach, 11234, Beverley Square East, 11226, Beverley Square West, 11226, Boerum Hill, 11201,11217, Borough Park, 11219, Brighton Beach, 11235, Broadway Junction, 11233, Brooklyn Heights, 11201, Brownsville, 11212, Bushwick, 11221, Canarsie, 11236, Carroll Gardens, 11231, Caton Park, 11218, City Line, 11207, Clinton Hill, 11205, Cobble Hill, 11201, Coney Island, 11224, Crown Heights, 11225,11213, Crown Heights North, 11213, Cypress Hills, 11208, Ditmas Park, 11226, Ditmas Park West, 11226, Downtown,11201, DUMBO, 11201, Dyker Heights, 11228, East Flatbush, 11203, East New York, 11207, 11208, East Williamsburg, 11206, Farragut, 11210, Fiske Terrace, 11230, Flatbush, 11226, Flatlands, 11236, Fort Greene, 11205, Fort Hamilton, 11209, Fulton Ferry, 11201, Georgetown, 11230, Gerritsen Beach, 11229, Gowanus, 11231, Gravesend, 11223, Greenpoint, 11222, Greenwood Heights, 11232, Highland Park, 11207, Homecrest, 11239, Kensington, 11218, Mapleton, 11204, Madison, 11229, Manhattan Beach, 11234, Manhattan Terrace, 11230, Marine Park, 11234, Midwood, 11230, Midwood Park, 11210, Mill Basin, 11234, Mill Island, 11234, Navy Yard, 11205, New Lots, 11236, North Side, 11211, Northeast Flatbush, 11212, Ocean Hill, 11233, Ocean Parkway, 11230, Paerdegat Basin, 11236, Park Slope, 11215, 11217, Plum Beach, 11235, Prospect Lefferts Gardens, 11225, Prospect Heights, 11217, 11238, Prospect Park South, 11217, Red Hook, 11231, Remsen Village, 11236, Rugby, 11203, Sea Gate, 11224, Sheepshead Bay, 11235, South Midwood, 11210, South Side, 11210, South Park Slope, 11215, Spring Creek,
11239, Stable Brooklyn, 11218, Starrett City, 11239, Stuyvesant Heights, 11216, Sunset Park, 11220, Vinegar Hill, 11201, Weeksville, 11233, West Midwood, 11230, Williamsburg, 11206,11211, Windsor Terrace, 11218, Wingate, 11203,
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BUSINESS INSURANCE NYC, (929) 290-8609 , Cheap Business Insurance, WE OPEN CORPORATIONS, INCOME TAX PREPARATION, INCORORATION, NOTARY, NEW YORK CITY BUSINESS INSURANCE, BUSINESS PLANS, COMMERCIAL INSURANCE, BUSINESS OWNER INSURANCE,TAX IDENTIFICATION NUMBERS, SALES TAX, PAYROLL TAX., sell a business, business for sale, selling a business, small business for sale, sell a franchise, advertise a business, how to sell a business, sell my business, Business Broker, Business Brokerage for construction businesses, Busines br oker for contractorsLOW COST BUSINESS INSURANCE, SMALL BUSINESS INSURANCE, FREE QUOTE, 1040, IT-201, 941, 1120, 1120S, CT3M/4M, OPENING SMALL BUSINESS IN QUEENS NY, INCORPORATING IN NEW YORK STATE, WORKERS COMPENSATION INSURANCE, PENALTIES REDUCTION, ELIMINATE FINES PENALTIES, SMALL BUSINESS INSURANCE, INCORPORATE FILING RECEIPT, EIN NUMBERS, EMPLOYER IDENTIFICATION NUMBERS, ITIN NUMBERS, INDIVIDUAL TAX IDENTIFICATION NUMBERS, 24 HOUR NOTARY SERVICE, TYPES OF INSURANCE, TYPES OF TAXES IN NYC, CONTRACTOR BONDS, CONSTRUCTION BONDS, BUSINESS PERMITS, CONTRACTOR INSURANCE, BUILDING PERMITS, BUSINESS LICENSES AND PERMITS NEW YORK CITY, JAMAICA QUEENS, OPENNING A STORE IN NYC, BUSINESS CERTIFICATE DBA, SALES TAX CERTIFICATE, CERTIFICATE OF AUTHORITY, GUARNISHMENTS, PROBLEMS SOLVED, LEINS, LEVIES, JUDGEMENTS, BOOKKEEPER, BOOKKEEPING, ACCOUNTANT, ACCOUNTANTS, CPA NEEDED, C.P.A. NEEDED, CERTIFIED PUBLIC ACCOUNTANT WANTED, TAX ACCOUNTANT, RAPID REFUND, FAST REFUND, BIG REFUNDS, INCOME TAX REFUNDS, RAL, REFUND ANTICIPATION LOANS, SURETY BONDS, HOME IMPROVEMENT CONTRACTORTS LICENSE TEST, HOME IMPROVEMENT CONTRACTORS INSURANCE, NASSAU COUNTY, KINGS COUNTY, NEW YORK CITY. BROOKYLN, HOW TO START A BUISNESS IN NEW YORK CITY ?, STARTING A BUSINESS IN NYC, PAYROLL SERVICE, INCOME TAX DUE DATES, FILINGS, TAX DUE DATES, TAX MAILING ADDRESS, INCOME TAX MAILING ADDRESS, NYC Department of Health and mental hygiene food service provider applications WC/DB-100, FLUSHING, CAMBRIA HEIGHTS, QUEENS VILLAGE, ST. ALBANS, HOLLIS, SPRINGFIELD GARDENS, LAURELTON, RICHMOND HILL, SOUTH OZONE PARK, WOODHAVE, REGO PARK, FOREST HILLS, CORONA, HOWARD BEACH, BELLROSE, BAYSIDE, FOREST HILLS, JACKSON HEIGHTS, JAMAICA, HOW DO I OPEN A BUSINESS IN NYC ? Business insurance NYC, Income Tax Preparation, Incorporate your business, open a new business, business start ups, Small Business Insurance NY, New York Business Insurance, Business Insurance Quotes, Commercial Insurance, Business Insurance, NY - Insure Your Business, New York relaxes rules on large commercial insurance, Commercial Liability Insurance, Crazy Business Insurance, Home Improvement Contractors License NYC, Home Improvement License NY, Home Improvement License NYC, Home Improvement License Jamaica NY, Home Improvement License Long Island, Home Improvement License Queens, Home Improvement License Brooklyn, Home Improvement License Staten Island, Home Improvement License Bronx, Home Improvement License NY
Advantage Brokerage, Inc
NYC Business Insurance
164-03 89th Ave Ste. 1-C
Jamaica, New York 11432
New York City Business Insurance
8845 164th St, Jamaica NY 11432
Queens County, New York City, N.Y.C.
Phone: (929) 290-8609
New Location opening in Brooklyn, NY