One thing a buyer needs to keep in mind is that it's not often advisable to consider relocating the business unless it's truly the type where the location has zero bearing on the company results.

While it's true that leases typically get assigned without too much aggravation when buying a business, it's not always the case. Understanding the key issues you'll face and doing so early on can ultimately save you a lot of heartburn later - imagine going through the entire deal only to find out the landlord simply will not assign the lease, or will only consider a new one at terms that are prohibitive? In order to completely avoid that possibility, address the lease transfer/assignment early on in the business for sale process.

What does the word "Proforma" mean on the Normalized Income Statement shown on a Business Profile?

A Proforma, in the context of the purchase and sale of a business, refers to a projected financial metric over a specific historical period that incorporates specific events or catalysts throughout the period. Usually, a proforma is calculated for revenue and/or EBITDA and often relates to the trailing 12 months. Buyers may look for catalysts such as the addition of a new product or the entering of a new market during the period, and then compute the "proforma TTM EBITDA" to estimate what EBITDA would have been had the new product been launched and in place for the trailing 12 months.