Buy A Business
Like starting a new business, buying a business can be one of the most exciting, challenging and rewarding endeavors to pursue. For those who desire to be their own boss and have control of their own destiny and success, buying an established business is the way to go.
If you tend to be a better finisher than starter, buying an established business is the perfect endeavor for you. The infrastructure will already be in place, saving you the time and expense of starting from scratch. Your ideas can enhance and add to the success of the business, truly making it your own.
Owning your own business can result in income levels that may never be attainable by working for someone else. Being your own boss also ensures the ability to determine your own work schedule based on your personal and professional priorities and lifestyle.
One of the most important and critical actions a prospective business buyer should take is the performing of due diligence. Due diligence is the process of reviewing information provided by the seller about the business’s operations and financials. Approximately 100 areas of the business should be reviewed and scrutinized so that you know exactly what you’re getting (and not getting) before you buy. One oversight can be disastrous. Once you sign on the dotted line, it’s too late.
As is true with starting a new business, it is very important to take advantage of the knowledge of those who are experienced with buying new businesses, especially if it’s the buyer’s first stab at it. Owning or operating a business doesn’t necessarily provide the experience needed to perform proper due diligence or negotiate a favorable deal. That’s where we can help.
Risolva Business Consulting staff and associates have extensive experience as business owners/operators, including experience with business purchases and acquisitions. We can assist you every step of the way, from performing thorough due diligence to helping you negotiate a great deal.