I frequently talk with
"Buyers" who think they want to buy a business, but they really are
just on the first step of the staircase.
If you are reading this Blog, then you have some interest in buying a business.
Here are a few suggestions to help you along the way.
1.
Determine how motivated you really are. Are you only interested if the
perfect opportunity comes along? If so, you'll probably never get there.
No opportunity is likely to be perfect.
2.
Are your expectations for revenue and profit realistic. If you want to
buy a business for $25,000 that will pay you $100,000, then "No," your
expectations are not realistic.
3.
Do you understand what the term "Seller's Discretionary Earnings" or
"Owner's Benefits" means and how it's calculated. You need to know. This
video is for business owners, but it provides and explanation and
example. Seller's Discretionary Earnings
4. Do you have an idea of what types of businesses will match your skill set?
5.
Do you have the financial capability to buy a business? You may not
need the full purchase price. Owner financing and SBA backed loans are
possible, but in all cases you will need to have some cash available for
the investment.
If
you are motivated, have realistic expectations and know your strengths
and weaknesses you might just be ready to own your own business.
I can help you find a businesses that is right for you and guide you through the process.
Jon Hunt
Senior Associate
Florida Business Exchange
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ReplyDeleteA sale can also take place through retail or consumer.
The Toppers Pizza brand is ready for its debut in Ontario. And we couldn’t think of a better place to start than the capital city of Ottawa. We’re ready to bring our mouth-watering pizza to our soon-to-be loyal and fanatical Ontario customers.
business for sale in Ottawa