The Business Buying Process

 

1.         Determine the type of business desire based upon your skills, interest and experience.

2.         Ascertain financial needs

3.         List financial resources (i.e. savings).

4.         Hire a Business Consultant.

5.         Search for businesses currently available for sale.  This may take some time.

6.         Negotiate price and terms.

7.         Utilize financial and legal input for final agreement.

8.         Perform Due Diligence regarding conditions necessary for the purchase.

9.         Acquire necessary financing.

10.       Prepare to take over the business.  Understand management of change.

11.       Closing.

12.       Implementation of Business Plan.