Before You Buy a Business…
- Get help from a good business broker who understands your needs and what you’re
- Do some research on the industry you’re considering and get an idea of its future
- If you already own a business, figure out how the new business and its employees can be incorporated into your current company
- Dig into the business’s reputation and uncover any hurdles that need to be overcome
- Does the business need a turnaround?
- Why is the company for sale? Don’t assume, it’s your job to ask the tough questions so you can uncover problems now rather than later
- Ask for all the business’s financials to go over with your accountant
- Ask the seller if there are any legal issues that may hamper our ability to do business.