Are you a motivated business buyer? Ask yourself the question "If I find what I want, am I prepared to place an offer?". 

You are doing a disservice to yourself, the business brokers and seller if you are not prepared to follow through. All business brokers and sellers assume that interested buyers are prepared to make an offer should the business for sale fit the buyer's needs or wants. All business brokers and sellers put a ton of time and effort into preparing for and marketing the businesses for sale. A "tire kicker" (not motivated) buyer only wastes valuable time better spent elsewhere.

If you were in a service business - would you want a potential client misleading you? Truthfully, this is how business brokers feel if an unmotivated buyer goes through the process.

NOW, if you are a motivated and serious buyer, are you properly qualified - business brokers can help here -  to make an offer then follow up on it? Anyone - including business brokers telling you that 100% financing is possible is LYING TO YOU!

As a general rule, you will need at least 20% of the selling price on businesses for sale -  liquid cash -  to place as a down payment. Next you will need relevant experience in either the industry in question or in past ownership and/or high level sales & marketing. Last, you will need good to great credit - generally a credit score of 650 or higher. If you are unsure about the qualification -  contact business brokers for said qualification. All good business brokers qualify business buyers before disclosing businesses for sale.

QUALIFY yourself - do you meet the 3 criteria last above - consider getting get a credit report on yourself that you can show a broker/seller. NEVER LEAVE THE CREDIT REPORT WITH THE BROKER OR SELLER! Most business brokers will not require credit reports and/or financial statements but they are good to have in place when looking at businesses for sale.

General Qualification Rules Of Thumb...

• Some sellers will hold up to 80% on a note AND some will not hold a note at all. 
• Each seller is different - it's their decision to hold a note - not yours
• Sellers and lenders will want you to have relevant experience and good to great credit if holding the note or providing a loan
• Some sellers or brokers will want a deposit before disclosing financials - DON'T DO IT! It's an old unethical trick by business brokers
• "Liquid Cash" is cash that you can get within 7-10 days.
• Take your liquid cash figure and multiply it by 5 - this is the high end of what you can afford