5 things to consider when buying a business

[Augusta]

There come a time a business owner might want to sell his business. It might be for whatever reason. But you the buyer must take into consideration other factors despite the price.

You need to be sure that to a large extend you are inheriting a healthy business. The factors to consider are;

The motive why the business is being sold. Make sure the business isn't an unproductive one and lacks integrity

Look at the labilities of the business and be sure you would be able to set them off

Check the legal requirements of the business and be sure it is as legal as it should .

Check the nature of the business and be sure you can run it

Weigh a business at a verge of collapse and be sure you can revive it

What else?

 

[Good luck]

One has to be very careful when buying a business.you have to find out if the business is not having any issues with Bank or any financial organization or institutions.you must have see if the business is not having a default in any insurance company.Also make sure the business is lucrative and profitable.A business that people will wants to patronize

 

[Alexandoy]

Aside from the legalities of the documents and the rental contract (if the place is rented) what I want to know is the real reason why the business is being sold. Another concern are the present employees. When buying a business the workers are part of the bundle so it should be clear on how those workers will be - temporary or permanent. The personnel is a big issue for a small business.

 

[Mika]

If you are buying an online business, verify the revenue. If the business is earing via adsese, make sure to see adsense earning reports, if the business earns via product sales, check the sales report. Also, check the traffic claim, ask to give you access to google analytics to verify the traffic.

 

[kayode10]

You must first investigate to determine if the business does not have any hidden loan we have apply for that are yet to be paid. You need to look into the cash flows to see maybe the business can make money for you after purchasing it. Look into their business plan to know if the business is viable.