Buying a Business

Buy a Business If you want to buy a business and this is new to you, for your assistance we have compiled a series of answers to the most frequently asked questions from first time buyers. This information will give you a general overview of the process of finding and buying a business for sale. More specific answers can be sought from one of our team of specialist business brokers. Don't forget to search through the many businesses for sale using the LINK search bar.

If you are considering buying a business valued over $1million, a franchise or a tourism business - please click on one of the following links:

 

Frequently asked questions


How much money do I need?

Before you begin looking to buy a business the first step is to work out what money you have available.  There is no point in looking at businesses for sale that are beyond what you can afford.  Calculate how much cash you have available and what other assets such as property you could borrow against.

When dealing with a business broker tell them how much you have to invest, then they will direct you to suitable businesses within your price range.  The business broker will also know which businesses for sale are more suitable to finance, or if the current owner is prepared to finance some of the purchase price. If the broker knows what funds you have available, this will help them to help you.

With some types of business it can be difficult to borrow money using just the business as security, due to the difficulty a bank may have in securing its loan. i.e. a retail stores asset is the stock which it is constantly selling off.  Therefore the bank would not have any actual security.  If you have a house or investment property you may be able to use this as security for a mortgage to buy the business, thereby requiring very little actual cash.

What initial information do I need to gather?

How are businesses priced?

What is the ideal business?

Why should I use a business broker?

Why should I pay someone to buy a business when I could start one up?

How do I find out about businesses for sale I'm interested in?

When can I inspect the business?

What happens when I find a business for sale I wish to buy?

How do I know that what I have been told about the business is true?

How can I be advised of any new businesses available as soon as they are listed?

What type of business broker should I use?

Start now and BUY A BUSINESS!!!



The buying process

The buying process

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