If you've never owned a business be prepared to learn new skills you've never had to use before. Don't underestimate the learning curve.
Buying a Business Newsletter - Page 7
If you think buying a business sounds expensive, try starting one.
There are many factors to consider in buying a business and a few of them repeat themselves no matter what kind of business it is.
Don't be afraid to make an offer when the business looks attractive; negotiations can't begin without a starting point.
When buying a business, you don't need to be an expert at what that business does, but having a better than average understanding will put you ahead.
When buying a business the first thing you need is a sound strategy.
While business valuation is not beyond comprehension, there's no substitute for getting an experienced opinion from a broker or an appraiser.
An important question to ask when buying a franchise is the extent of training and support provided. Balance the answer with your abilities and desires.
Financial Documents can be confusing even to someone with experience in reading them. When buying a business you should source a broker, accountant, or other experienced Financial Advisor to better understand them.
There are thousands of questions one could ask when buying a business. But they all come down to basic categories such as: earnings over time, stability of employees, and customer and vendor relationships.
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