Set Reasonable Rules When Buying a Business
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It's important to know the strengths and weaknesses you bring to the table as a buyer. Look for businesses that are compatible with your ability to add value.
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Buying a Business Newsletter - Page 15
Having a Deal Team is essential when buying a business
The way a deal is structured has many implications that can come back to haunt you long after the deal is closed. Always consult an attorney in the process of buying a business. They are an essential part of the Deal Team.
SBA loans are often misunderstood.
SBA insured loans remain one of the best and practical ways to finance a small business acquisition. Make sure your lender has SBA experience.
Are You Ready to Buy a Business?
Self reflection is an important first step when buying a business. The purpose to owning a business is to give you more life, not to suck the life out of you.
When buying a business, ask lots of questions.
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While there are many business opportunities to consider, a very few preliminary questions can determine if you should move forward or cross this one off.
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Why a smooth ownership transition is critical.
It is generally a good idea not to make any drastic changes to a business' operations for up to a year following the purchase. Learn how the business works before you make big changes.
Know What Questions to Ask
When buying a business, your questions never seem to end. It helps to understand them in a few broad categories.
Are you ready to commit?
Buying a business can be daunting; but you miss 100% of the shots you never take.
Buying a business is not an event but a journey.
Buying a business is not an event but a journey. Patience and persistence will pay the biggest dividends and help prevent a bad decision.
How to Get a Loan to Buy a Business
In small business lending, a well-organized and complete application is the exception not the rule. Getting professional help to put your best foot forward is a good idea.
