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Tips on Buying a Business in Canada

Written by: Shaun Wilson

Article Overview: Considerations when looking at a business to buy in Canada

Tips on Buying a Business in Canada

Once you have identified a business of interest, contact the owner and ask to speak to him/her. Ask the owner why the business is being sold and how long it has been in business.

Obtain the financial records from the past three years which will include balance sheets, profit and loss statements, and cash flow reports.

Take financial statements to a accountant to have the information analyzed.

Ask the owner where the company is positioned in relation to its competitors. Find out whether any larger competitors are entering the market.

Contact related governing bodies to ascertain whether any significant changes are planned for the industry that could impair the business in one way or another.

If possible, spend some time at the place of business and monitor is customer traffic flow and phone call rate.

Check out the website business2sell.ca for a listing of business for sale.
Written by: Shaun Wilson, Business2sell.ca

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