10 Things You Must Know Before You Buy Any Business
10 Things You Must Know Before You Buy Any Business
2. That the business is in an industry you have or can gain experience in, have a vision for and can add value to while living and supporting the lifestyle you want?
3. That there is a sound market now and tomorrow for the product or services this business provides?
4. Who the competitors are, are they a threat, and how is this business positioned to operate in-light-of; imports, new technologies, regulations and currency fluctuations?
5. Who the key customers are, what they represent, how they feel about this business, and if they are friends or related to the current owner.
6. What are the relationships, terms, and contractual arrangements with suppliers and can these be readily transferred?
7. Why the business is for sale, how profitable it is and has been over the last three years, what are the trends? Your accountant will help recast the accounts to confirm this.
8. That any leases, contracts, employment matters and or intellectual property is legally sound – use your lawyer to assist here.
9. That the price is fair and reasonable; that all plant and equipment required is in good order and listed, that the stock has been accounted for and valued appropriately, and that any goodwill is appropriate to the strength and earnings of the business.
10. What legal structure you will use to operate the business, how you will fund and service the borrowing of the business and how you will contribute to its success.
Owning a business can be very rewarding, apart from the potential to amass wealth, you get to decide when and how long you work, who you work with, and the manner in which you produce the product or service. However make sure its something that you really want to do, something you are passionate about, have a vision for and have the necessary skills to add value to. In buying any business, always do your homework and consult with professionals. For more information and business opportunities visit nzbizbuysell.co.nz.
Information provided by www.nzbizbuysell.co.nz.
10 Things You Must Know Before You Buy Any Business - To learn more about this author, visit Rob Keating's Website.
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1. That you are business ready; understand your skills, strengths and weaknesses, and have the necessary resources and support to buy a business.
2. That the business is in an industry you have or can gain experience in, have a vision for and can add value to while living and supporting the lifestyle you want?
3. That there is a sound market now and tomorrow for the product or services this business provides?
4. Who the competitors are, are they a threat, and how is this business positioned to operate in-light-of; imports, new technologies, regulations and currency fluctuations?
5. Who the key customers are, what they represent, how they feel about this business, and if they are friends or related to the current owner.
6. What are the relationships, terms, and contractual arrangements with suppliers and can these be readily transferred?
7. Why the business is for sale, how profitable it is and has been over the last three years, what are the trends? Your accountant will help recast the accounts to confirm this.
8. That any leases, contracts, employment matters and or intellectual property is legally sound – use your lawyer to assist here.
9. That the price is fair and reasonable; that all plant and equipment required is in good order and listed, that the stock has been accounted for and valued appropriately, and that any goodwill is appropriate to the strength and earnings of the business.
10. What legal structure you will use to operate the business, how you will fund and service the borrowing of the business and how you will contribute to its success.
Owning a business can be very rewarding, apart from the potential to amass wealth, you get to decide when and how long you work, who you work with, and the manner in which you produce the product or service. However make sure its something that you really want to do, something you are passionate about, have a vision for and have the necessary skills to add value to. In buying any business, always do your homework and consult with professionals. For more information and business opportunities visit nzbizbuysell.co.nz.
Information provided by www.nzbizbuysell.co.nz.
10 Things You Must Know Before You Buy Any Business - To learn more about this author, visit Rob Keating's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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