Taking owners out to dinner

July 24, 2025

by a searcher from Carnegie Mellon University in Denver, CO, USA

When is the right time to take the owners out to dinner to learn more about them and the business, especially when the broker wants to be involved in every conversation? Would it make sense to ask for their email and send an invite directly, or should I run it through the broker? Ideally, I’d like to do this pre-LOI, shortly after the first call with the seller, but I would love to hear your thoughts.

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Reply by a searcher
from Harvard University in New York, NY, USA

I can't think of a single broker that would allow you to have dinner with his client without him present, without his expressed approval. It's in all the NDAs you sign with the broker, as well as the hiring contract between the seller and the broker. That being said, you never need to go to dinner with the seller. Phone calls / emails / formal DD meetings go a long way. Only time you never need to go to dinner is maybe a closing dinner. It's like dating. Coffee/Drinks/Casual dinner first. No need to start with a 3 star Michelin meal.

Reply by a professional
from Miami University of Ohio in Denver, CO, USA

It's a fine line, early on you need to navigate the broker relationship while trying to get time with the seller. Pre LOI, if it's a hot deal you are going to find it hard to get too much time with the seller beyond a call or site visit. I'd push for a site visit over dinner pre LOI. Dinners are better for once you have the LOI and are working through business diligence.

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