Things to Do Before you Buy a Business

Before You Buy a Business…

  • Get help from a good business broker who understands your needs and what you’re

looking for

  • Do some research on the industry you’re considering and get an idea of its future

trajectory

  • 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.