• Tue, Dec 22, 2020
  • 4 Things to Understand When Buying a Business
  • 1606150489-gettyimages-1090969206
  • Article by Chris Porteous, published in Entrepreneur on November 25, 2020. 

    Have you been at a job for a few years, but think you want to be your own boss? One way to achieve this is by owning a .

    You might not have the stamina to start a company from scratch. However, you can buy a business that already has credibility and make it your own.

    Before you look for companies to buy, there are some key things to understand. For most, this will be a large investment, so you want to make the best choice. Here's what you need to know when buying a company. 

    1. Seek out businesses that align with your passion

    2. Thoroughly research businesses for sale 

    3. Know why the business you want to buy is for sale

    4. Create a business plan

    The bottom line

    Taking the step to become a company owner is a lifelong dream for some. You get to be your own boss, make the decisions, and collect the profits. However, there are things to consider. When searching for a business to purchase, you should know why it's up for sale and create a detailed plan. Choose a company that aligns with your passion — and you'll be on your way to success.

    For the full article, click here

    Steve Niehaus, MBA, CBI, CM&AP
    [email protected]