Buying a Business Newsletter - 2020 Archive - Page 5

Financing can be one of the most challenging aspects of buying a business. There are more options than you may realize.

When buying a business it is important to be thorough. When buyers get "bit" it's because of the question they never asked.

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.

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.