By Mike Handelsman, Group General Manager, BizBuySell.com and Bizquest.com
Buying a business can be a complicated process, even with previous experience. The business-for-sale marketplace is very dynamic – and each business is so unique – that both pros and novices alike must do extensive research and preparation before diving into a deal.
How do buyers avoid getting burned and make sure they enter into an acquisition that offers them financial and emotional peace of mind? They have the greatest chance for success by being proactive and well-versed during every step of the purchase process. With the following three tips as starting points, buyers can be sure to find out what they need to know to get well on their way to owning the business of their dreams.
1. Understand Parameters
One of the biggest mistakes people make when purchasing a business is not having a solid grasp on how it will affect their lives. It’s not uncommon for buyers to get so excited by the prospect of owning a new business that they rush into it without asking themselves some very important questions, such as: (more…)