Buy a Business FAQ

Business Buyers Can Leverage SBA Lending

By Patrick Bice / July 13, 2019 / Comments Off on Business Buyers Can Leverage SBA Lending

Finding the money to start your own small business can be a challenge.  Over the decades, countless people have turned to the Small Business Administration (SBA) for help.  A recent Inc. Magazine article, “Kickstart Your Business Dreams with SBA Lending,” by BizBuySell President, Bob House, explored how SBA lending can be used to the buyer’s…

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5 M&A Myths and How to Deal with Them

By Patrick Bice / May 29, 2019 / Comments Off on 5 M&A Myths and How to Deal with Them

Where your money is concerned, myths can do damage.  A recent Divestopedia article from Tammie Miller entitled, Crazy M&A Myths You Need to Stop Believing Now, Miller explores 5 big M&A myths that can get you in trouble.  Miller points out that many of these myths are believed by CEOs, but that they have zero…

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10 Questions Everyone Should Ask Before Signing on the Dotted Line

By Patrick Bice / May 18, 2019 / Comments Off on 10 Questions Everyone Should Ask Before Signing on the Dotted Line

Before buying any business, a seller must ask questions, lots of questions.  If there is ever a time where one should not be shy, it is when buying a business.  In a recent article from Entrepreneur magazine entitled, “10 Questions You Must Ask Before Buying a Business”, author Jan Porter explores 10 of the single…

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A Step by Step Overview of the First Time Buyer Process

By Patrick Bice / May 13, 2019 / Comments Off on A Step by Step Overview of the First Time Buyer Process

A recent article on Businessbroker.net entitled, First Time Buyer Processes by business broker Pat Jones explores the process of buying a business in a precise step-by-step fashion.  Jones notes that there are many reasons that people buy businesses including the desire to be one’s own boss.  However, he is also quick to point out that…

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What is the Value of Your Business? It All Depends.

By bbpadmin / June 4, 2014 / Comments Off on What is the Value of Your Business? It All Depends.

The initial response to the question in the title really should be: “Why do you want to know the value of your business?” This response is not intended to be flippant, but is a question that really needs to be answered. Does an owner need to know for estate purposes? Does the bank want to…

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Do I need an attorney?

By bbpadmin / January 10, 2012 / Comments Off on Do I need an attorney?

It may be advisable to have an attorney review the legal documents. It is important, however, that the attorney you hire is familiar with the process of buying a business and has the time available to handle the paperwork on a timely basis. If the attorney does not have experience in handling businesses for sale,…

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Why should I go to a business broker?

By bbpadmin / January 10, 2012 / Comments Off on Why should I go to a business broker?

A professional business broker can be helpful in many ways. They can provide you with a selection of different and, in many cases, unique businesses, including many that you would not be able to find on your own. Approximately 90 percent of those who buy businesses end up with something completely different from the business…

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What happens when I find a business I want to buy?

By bbpadmin / January 10, 2012 / Comments Off on What happens when I find a business I want to buy?

When you find a business, the business broker will be able to answer many of your questions immediately or will research them for you. Once you get your preliminary questions answered, the typical next step is for the broker to prepare an offer based on the price and terms you feel are appropriate. This offer…

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What does it take to be successful?

By bbpadmin / January 10, 2012 / Comments Off on What does it take to be successful?

Certainly, you need adequate capital to buy a business and to make the improvements you want, along with maintaining some reserves in case things start off slowly. You need to be willing to work hard and, in many cases, to put in long hours. Unfortunately, many of today’s buyers are not willing to do what…

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What should I Look for?

By bbpadmin / January 10, 2012 / Comments Off on What should I Look for?

Obviously, you want to consider only those businesses that you would feel comfortable owning and operating. “Pride of Ownership” is an important ingredient for success. You also want to consider only those businesses that you can afford with the cash you have available. In addition, the business you buy must be able to supply you…

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