Buying a Business Newsletter - Page 17

With the large number of businesses expected to hit the market in the next few years, it would seem like a buyer's market is emerging.  However, the number of quality businesses available is another matter.

Buyers need to learn as much as possible about a business to make an offer, and sellers need to know as soon as possible if a buyer is serious. Don't wait too long to make an offer.

If you want to buy a business and you have never owned one, you need to reflect long and hard on your readiness to lead.

Before buying a business, know the difference between running a business and being self employed. One works even when you're not there, the other only works when you are there.

Going from employee to business owner is a big step; prepare as well as you can but be ready for the unpredictable.

When buying a business do your homework, do your research. But at the end of the day you'll come to a point where you have to say deal me in or deal me out.

When buying a business do your homework, do your research. But at the end of the day you'll come to a point where you have to say deal me in or deal me out.

It's important to have a good idea of what you want in a business, but keep an open mind along the way; opportunity can smack you in the head.

There are many points of view on whether to start or buy a business and each has pros and cons. Evaluate your own appetite for risk.

For transition purposes, buyers usually want sellers to stay in the business longer than necessary, then want them to leave sooner than agreed. This part of the transaction deserves great thought.