Buy A Business General

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.

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.

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.

A good place to start when buying a business is to reflect on your own motivations, lifestyle needs, and what drives your energy. A business that ticks all the boxes for you will be much less of a challenge.

When growth through acquisition is your strategy, make sure there's good alignment between your current business and your target.

The negotiating and deal term experience of a broker can help you avoid a number of landmines and shortcut the process of buying a business.

While analysis paralysis is not a great recipe for successful decision making, a prospective buyer should never fail to ask enough questions to understand the business; and the seller's motivations.

If you don't like the kind of business you are looking at and it doesn't excite you, no amount of profitability and financial soundness will overcome that.

You can never really ask enough questions when buying a business. Gather your information, make decisions, and then take action.