Consider These Four Factors When Buying A Business

"Continuing my series on buying a business, here are summaries of four more critical factors to consider when acquiring a small business.

Old sellers are the best sellers
One of the best opportunities to acquire an existing business is when you can buy one from an owner who wants to retire from a business that’s still viable. Two good reasons are: they’re less likely to change their mind before the transaction is complete, and they’re more likely to finance a larger part of the sale price to get monthly income.

But notice I said, “still viable.” Sometimes the end of the current owner’s career coincides with the end of the life of the business. Don’t buy a business that should also be retiring.

Assume skeletons in the closet

Every business has baggage. Every business! If your due diligence doesn’t find any, you didn’t look hard enough. Or even more dangerous, you want the deal so much you rationalize what you found as “not so bad.”"

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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.