A BUSINESS BUYER’S GUIDE

Top things to consider before buying an existing business

“WITH GREAT AUTHORITY COMES GREATER RESPONSIBILITY”

It is a well-known fact that business start-ups face a lot of issues including:- The difficulty of building a customer base- Establishing cash flow- Hiring a competent staff- Marketing the new business etc.

A wiser, better and convenient alternative to avoid all this hassle is to buy an existing business which holds numerous advantages and fewer risks over

the previous option.

A reasonable amount of research for your new venture can save you from sinking all your resources, so what are the things you need to look out for when you have

decided to buy a business?

CHOOSING THE RIGHT BUSINESS

Identify your interests to make sure that you choose a business which will motivate you to perform better with time.

Also, consider your education, experience and skills before making a move. 

LEARN MORE ABOUT THE BUSINESS

Why is the business being sold?

Is it in a midst of a dispute?

What is the customer strength?

What is the reputation of the business etc.?

Conducting a thorough objective investigation regarding the business is a vital step which can be carried out by asking a few questions:

EVALUATING THE BUSINESSA detailed analysis of the balance sheets and income statements can assist you to determine the financial health of business. Look for the following things:

What is the product or service which is being offered?

What is the response of the demonstrated market?

What are the operational expenses?

Does the business have any debts?

How are the financial records?

What are the business assets etc.? 

 GETTING A PROFESSIONAL INVOLVED

An experienced and qualified broker can provide you with valuable advice and bring your attention to details which may otherwise go unnoticed and thereby can

assist you in the negotiation, evaluation and purchase process.

PLANNING FOR THE GROWTH OF THE BUSINESS

Make a strategic marketing plan to promote your products or services effectively, think of innovative ideas to expand the business without burdening the revenues and formalize a management plan to supervise and manage the

business efficiently.

Find your business inspiration and acquire your prospective company by logging on to tobuz.com and browse through

our listings to buy a business which suits your needs.