Uncategorized September 15, 2019
Life is full of choices. We make them each day. Hmmm. Vanilla or Chocolate, Vacation in Hawaii or…..well you get the idea. You’ve now made the choice to sell your business. Before you choose how to sell your large or small business, let me give some sound advice. All that money you worked so hard to earn. It’s your money. Spend it wisely. You worked hard for it.
There’s no question that research and understanding your finances are important. Going into business requires money and what goes on around it. However, if you want to borrow money to help fund your new business you are going to need at least 4 things. If you can’t be bothered getting these together you will not be taken seriously by sellers, landlords, Starting a business in Thailand, lenders or other related parties. Or worse still, you’ll be taken seriously, asked for these documents and when they found not to be in order, your dream will be shattered.
For Business brokers online the first time in my life at that point I realized that the conventional way of thinking was messed up. If you think about it the way we are trained to live as we grow up and the things that we put value on some of them are really ridiculous.
Since this business has a high dollar cost to get into, most buyers will need to have substantial funds available or solid financing in order to buy an existing business or start one up. The money sources for this venture can be the current owner, an Internet business lender, your bank, your relatives, loans on property you own or family-money. This purchase is not a small consideration and most likely will take some kind of financing for most new owners. You should be aware of this going in and a discussion with a business broker could help you figure if it is feasible for you to make happen.
The second step is to decide what kind of business. This is really really important. What are the criteria for this business you are looking to buy? Do not make a wish list or what would be nice. Make a list of what is important. For example, if your standard of living requires $100,000 income, do not compromise by looking at businesses that make only $50,000.
Are there mandatory meetings and training for the owner or his staff. Each major franchise has different elements like this in the contract they make with the buyer. These are the details that should be looked into before purchase. How do you do this and where are good places to seek the answers?
Already being on my blog you may have an idea what sellerconfidential is and offers. If not, take a moment to peruse through our website and then return here.
Employees are important to the growth of a company. Treat them with respect and compliment good work. People like to know they are appreciated as well as being paid for the work they do.