I have questions about buying a business
Do you have questions about buying a business? Don’t worry. We know it can be a complicated process, and at first things like knowing the value of the business you are buying and getting financing can seem daunting. We’re here to help.
If you don’t find the answers to your questions here or on our blog, or you are just ready to buy a business, contact us anytime. We would love to connect you with the right seller and get you on the path to running your own business.
So you want to buy a business? Some of the first steps are knowing what kind of business you want to buy, what skills you bring to the table, and whether the timing is right.
See this post for some more things to consider when you are thinking about buying a business.
Buying a business is complicated and take some time. There are some ways to speed it up, though. Having cash, knowing what you want and having the proper licensing, and making sure you are ready to qualify for financing are all important.
It’s also helpful to understand due diligence, and the investigations you will need to do regarding a business before signing the bottom line.
There are several options if you want to buy or start a business. You can start a business from scratch, buy an existing business, or buy a franchise.
You also have several financing options, from cash to SBA loans, to seller financing. You’ll need to make several key decisions before buying a business.
There is a simple answer to this. When you are buying a house, each party has their own realtor who looks out for their interests. A business broker instead makes sure that the transaction is transparent and that everyone knows the terms of the sale.
A business broker is important to both the buyer and the seller. Find out more about why here.
The simple answer is that it can help. There are special SBA programs and other incentives and programs to help veterans buy a business. Learn more about these opportunities, and when you are ready, contact us for help.
Buying a business is complicated, and getting a loan can be too. Because the SBA is assuming some of the risk in your financing, they want to make sure that everything is in order and you are making a good investment before they grant you a loan.
Know your credit rating, and be ready to answer questions and provide paperwork asked for, and your application process will go much smoother. Here is some more information on SBA loans.
There are many challenges you can encounter when buying a business. This includes understanding confidentiality, legal agreements, negotiating a deal that works for buyer and seller, third-party finance to getting the right contractor’s license or licenses and certifications. The process can get complicated quickly.
This is one of the many reasons to consult a business broker when you’re ready to buy. If you are ready and want to learn more about the businesses we have currently for sale, contact us today.
