Buying a Business Newsletter - Page 5

Buying a business is a process. But being prepared with what to expect will help you feel at ease.

When preparing to buy a business, make sure you know both the high and low ends of what you are willing to spend. Then you will feel more comfortable when the negotiating begins.

The process of buying a business can teach you how to sell it in the future.

Buying an existing business means you are taking over a proven business model; but improving on it will bring you your biggest reward.

When buying a business consider the opportunity you are gaining weighed against the price that is being asked. The balance must be acceptable to you.

Buying an existing business with a proven track record may be less risky than starting a new business.

Under the CARES Act, the SBA will cover all loan payments, including principal, interest, and fees of new and existing loans for six months for any eligible loan made prior to September 27, 2020. See your lender or the SBA for complete details.

While this may seem like an odd time to buy a business, it might just be the best time to seize the opportunity you’ve been waiting for.

Now might be a good time to look into alternative funding options when buying a business. But be sure you know all the pros and cons before jumping in.

There are many rewards to being a business owner. Make sure to seek advice from professionals about the risks associated with business ownership.