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How do I buy a business?
I have seen the prices for businesses, and they seem to be really high. I don't think I could pay all that money right away straight out of my savings. Do owners get to pay the amount in monthly increments like on a loan or something? How does someone go about buying a business?
- Steve BLv 77 years agoFavorite Answer
If you don't even know how to start, you are in danger of being ripped off .. fact is, people only SELL what they no longer want .. and EXACTLY why would some-one NOT want a profitable business ?
Well, they COULD be retiring == so they will be wanting to get at least 5 times the annual profits (plus the value of the stock) as a 'lump sum' ...
However, more often that not, I would suggest, the owner has been working 80+ hours a week just to keep afloat and can now see disaster staring them in the face .. either competition, market changes / new technology or (in USA) something nasty 'in the past' has caught up with them and is going to result in a lawsuit (asbestos cladding in the roof anyone ?)
Whatever == no they won't want monthly payments (first if you go bust the payments stop, second if they still have a 'connection;' with the business some clever lawyer is going to go after them ... and finally, if the they monthly profits were 'guaranteed', why wouldn't they carry on running it themselves ??
I suggest you look into FRANCHISE businesses (this is where you put up some cash 'up front' to 'buy the name' and they sell you stock / training etc. and take a cut of your turn-over == you note I say a cut of turn-over and NOT a cut of profits == often there are no profits for the first few months (or, sometimes, years))
- Anonymous7 years ago
It really depends on what you enjoy doing most, the internet has made it possible for you to take almost anything you are most passionate about and make money from it.
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- Anonymous7 years ago
Buying an establish business is not that easy. You have to think about various aspects like the market they are acquiring what is your position in it, do you have all relevant policies to retain their employees and will you be able to maintain you repute in this sector. You can buy a business keeping these things in mind.Source(s): http://www.kbscorporate.com/
- kemperkLv 77 years ago
there is no set way............different owners request different
the selling agents presume an all cash offer..
but you can negotiate it!
--what type of biz?
I can help u