Don’t Fall For The
This is an important lesson in negotiating you have to keep in mind while buying a business. Let me give you an example of what happened to me recently in a very similar situation and I will explain how you…
“Looking” To Buy A Business Rarely Results In A Purchase
One of the big problems with buying a business is that it costs nothing to look. There are hundreds of thousands of businesses listed for sale, lots of business brokers and countless other resources one can tap into while in…
Consider Seasonality When Buying A Business
Very few businesses have steady and equal activity each month of the year. As such, it's critically important to understand the seasonality of any business you may be buying. The obvious issue of course is the working capital requirements when…
The Importance Of Making Offers And Purchase Agreement Details When Buying A Business
When the time comes to making a formal offer on a business, you will do so via a Letter of Intent (LOI) or a formal Offer to Purchase Agreement (PA). The one you will use depends upon several factors including…
Reality Check – What Many Buyers Are Looking For Doesn’t Exist
“I want to find a solid business where the owner wants to retire and doesn't have any family members to take it over. I want to offer him a way out and cut a deal where I don't have to…
Use Every Available Resource To Help You Buy A Business
It's understandable that many people think that all they need to do is to use a business broker to search for a business and then engage an accountant and lawyer to assist them with the financial and legal details involved…
Setting Deadlines When Buying A Business
There's a major difference regarding timelines when buying a business versus a real estate transaction. In a typical real estate deal, there are hard deadlines set by lenders, closing agents, buyers (who may be vacating a current house) and sellers…
Buying A Business You Can Run Absentee
How wonderful it would be to buy a business, hire a top notch manager who will oversee the operations while you sit on the beach and relax. This is the vision some people have in mind when buying a business…
Avoid The Panic – Know Exactly What You’re Getting When Buying A Business!
Imagine that you complete the purchase of a business. You get the keys to the place, and on day one you walk in totally excited to take advantage of the wonderful opportunity only to discover that there's no furniture in…
Lease Issues To Consider When Buying A Business For Sale
Buying a business will often include the assumption of a lease for the premises occupied by the business for sale. There can be a number of significant issues involved with the lease and I have seen several deals fall apart…