We found an 800sq.ft. espresso smoothie bar on the beach in Fort Lauderdale. Since it's my first time buying an existing business, what are the steps? We have met with the owner and asked for financials and an inventory of equipment. The owner asked for a letter of intent, etc. What are the procedures? What should be in the letter of intent?

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You can search the web for examples of letters of intent. Basically its just what your offer is and what you want them to do i.e. any improvements before you buy etc. Good luck!
Where on the beach in Ft. Lauderdale? I used to live there and worked on both ends of the beach. Oasis Cafe on the south end and Brennan's in a hotel just south of Atlantic Blvd.

Good Luck!
A letter of intent is saying "you will buy" the business if everything checks out. I am considering looking for someone to puchase my business and I do not want to divulge everything unless I know that the prospective purchaser has the "intention" of buying. Otherwise it is a waste of time. I also want to have documentation that the prospective buyer has financial resources lined up along with the "intent to buy".
Thanks for your answers. I found a letter of intent Pro-Buyer and ready to send it in. Anthony, it's actually on Hollywood beach.
I just never thought of getting a coffee shop on a beach; I always counted on the car traffic. And now, it's a totally different beast!
Barbara,
Hi, I don't know if your interested but I'm looking for someone to open a coffee/gift shop with me in beautiful Sedona, AZ. If your interested please contact me at talrl@yahoo.com

If not best of luck to you. Sorry I couldn't advise you further. Take Care

Christina Martin

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