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Business Buying and Selling


Following comments are from TABB.ORG

Whether you are an experienced business buyer (multiple transactions consummated) or a first time Buyer some of the following tips may be helpful in your search for a business.

 
  1. Take a good look at your personal financial position including assets, liabilities credit history, family financial requirements (monthly net expenses).
  2. Examine your personal and family risk-reward quotient.
  3. Do you feel that your emotional maturity is such that you can handle business decisions. It is your money not the bosses'.
  4. How long have you been thinking about owning a business of your own?
  5. Do you have 100% support from family in the endeavor.
  6. What skills, experience, certification (if applicable), can you bring to the Business.
  7. Are you willing to put in the hours to make a success of the venture?
  8. Do you have access to support professionals to guide you in the search process and after the closing?
  9. Are you sufficiently committed to the concept of putting your hard-earned assets on the line, including personal guarantees?

If you have answered affirmatively to the foregoing, you are probably an EXCELLENT candidate to be in business for yourself. Now that you are prepared mentally, physically, and financially to purchase a business; you need to select a TABB Broker to assist in your business acquisition.

If you are Seller,

Owners of businesses all reach a point in the history of their enterprises when it is time to "hang it up".

 

 

Many factors will tell you when it's time:

  1. Owner's "burn out."
  2. Owner's or key employee's health problems.
  3. Business relocation or rerouting of expressways.
  4. Lease expiring and you do not want to renew for another term.
  5. Changing technology.
  6. Get estate in order.
  7. Not interested in investing additional long-term capital.
  8. Children do not want to enter the family business.
  9. Under capitalized.
  10. Largest accounts in financial difficulty.
  11. Bank unwilling to renew credit lines.
  12. Supplier problems.
  13. Staff problems.
  14. Customer habits changing.
  15. Seeks retirement.
  16. Wants to cash out and go fishing.

Whatever the reason, you need to plan on an orderly transition to new ownership and less involvement on your part.

 

The secret is: How do you find the right buyer for your life's work?


Finding the Right Buyer