We Have Great Businesses For Sale
Just as our sellers have many reasons to sell their businesses, there are many reasons why buyers are searching businesses for sale.
The first reason is one that comes from a basic accounting underlying assumption, which is that of a “Going Concern”. It assumes that a company/entity will continue running for some time that will enable it to fulfill its goals and obligations. There are benefits of buying an existing, stable business over starting one from scratch.
On the lending side of the equation, most lenders are more interested in lending money to an established organization that already has a customer base, employees, business partners etc. in addition to a proven, income producing, going concern. This is not the case when lending money to someone for their riskier cash eating startup project where they must experience the exhausting task of creating their product or service, niche, advertising and branding, equipment buying, hiring, training, and firing of unproven employees, developing strategic relationships, and creating systems. All this, often without making a profit, for several years.
It can be a daunting task to search for the right business to buy. The return on your investment of owning a business is often unsurpassed compared to other investment opportunities. Of course, small business ownership is typically not a passive investment and the risks can be high compared to other investment types. Wright Business Brokers and the Touchstone team of professionals welcomes the opportunity to uncover your needs and properly assist you in the buying process.
Here are some of the basic steps in purchasing a business:
- Understand your goals and objectives and what your ideal business would look like in terms of business category (agriculture, automotive, education, food and beverage, manufacturing, retail, service businesses etc.), do you want to manage employees, geography, inventory etc. and how this ideal business would match your background, skill set, and resources
- Find and hire an experienced professional business broker that has a clear understanding of your needs and desires and that will stand by a code of ethics, which includes maintaining confidentiality. Finding quality businesses for sale can be challenging to say the least. As experienced business brokers, we often search for and find businesses for clients that have not yet been listed, thus minimizing headaches and eliminating competition
- Research, network, and share purchasing opportunities
- Interview the seller to see if both are a good fit for one another
- Determining the fair market value of the assets and a proper valuation (most probable selling price) of the business
- Create a well-written Letter of Intent offer with contingencies
- Effective due diligence asking the right people the right questions
It’s been said that less than five percent of business buyers succeed in accomplishing their business purchasing goal on their own.
It is my goal to properly marry the right buyers with the right businesses. If you or anyone you know, are interested in purchasing a business contact us and we’ll have you fill out our Buyer Questionnaire and Confidentiality Agreement and also share our current business listings with you.
Check out our Touchstone Business Advisors Listings