Hoping to find a business for sale in Westchester, NY? New Rochelle and the surrounding Sound Shore offer neighborhood restaurants and shops, health practices, home service contractors and other companies whose customers return year after year. We help buyers evaluate opportunities, check the numbers and reach the closing table. Our buy a business page outlines how we work with buyers.
Due Diligence Points for New Rochelle Buyers
- The lease: remaining term, rent increases and whether the landlord has redevelopment plans for the building.
- Revenue sources: walk-in sales compared with contracts and repeat clients, and whether key accounts will stay with a new owner.
- Staff and licenses: employees who hold required licenses, their pay and how long they have been with the company.
- Seasonality: summer peaks for waterfront and outdoor businesses, and holiday swings for retail and food service.
- Approvals: state, county and city permits that must be reissued to you before you open under new ownership.
Financing and the Path to Closing
With a signed letter of intent, your accountant and attorney can confirm the earnings, tax history, contracts and permits. Smaller acquisitions are commonly funded by an SBA 7(a) loan alongside financing from the seller. On a New York asset purchase, the buyer must notify New York’s Department of Taxation and Finance on Form AU-196.10 ten or more days ahead of the earlier of payment or taking possession. Skipping that step can leave the buyer liable for the seller’s unpaid sales tax. Throughout, we coordinate the bank, the lawyers on each side and both parties so the closing date holds.
- Read the anonymous overview and sign an NDA.
- Go through the complete offering materials and financials.
- See the business in person and talk with the seller.
- Present your terms in a letter of intent.
- Wrap up diligence and financing, then take over.
New Rochelle photos: Manav Kumar, Unsplash License, via Unsplash; cropped and resized.
