6 Factors of Purchasing an Existing Business

Updated: Jul 22

If you've already decided that purchasing a business is the right choice for you, you may still have questions. Here are some suggestions to help you start on your path to profits and success.


  • Consult a business broker. Business brokers, like real estate agents, have expert knowledge of the buying and selling process. They also have real-world experience and can offer good advice. But beware! They typically get paid commission, so you need to find one you can trust.


  • Talk to the customers. This will give you a feel for the business itself.


  • Talk to the owner. The more you chat with the current owner, the more information you will get about the business and why they are choosing to sell.


  • Talk to employees. This will help introduce you to the history of the company, the attitudes of employees, and eventually with people who may soon be working for you.


  • Negotiate the best deal possible. Ask the current owner to throw in equipment, office supplies, even company vehicles. If they are eager to sell, you may end up with a great many extras you might otherwise have had to purchase separately.


  • Make it legal. For your own protection, don't try to complete the sale without the help of your tax advisor and a legal advisor with experience in small-business transactions.


By:

Adicator Digital Marketing Agency

9 views0 comments