Make sure you know what you are buying
The Latin term “Caveat emptor” is a long held quote meaning “let the buyer beware”. This holds very true in the buying of a business.
Purchasing a well established business is a fantastic way to grow a a strong business or for new business owners to get into business. This can be very stressful, If the buyer enters the process unprepared it can be disastrous.
The seller knows their business, they know all the issues and traps, the buyer does not. The seller is often represented in the sale by a commissioned broker who works for the seller, not that the buyer. So who is there to help the buyer?
In buying a business there are so many questions to consider:
What process will the seller follow?
How do you assess the price?
What should you look for during the due diligence process?
Are conditional sale and purchase agreements to be signed?
How is confidentiality managed?
There are hundreds of other question that need to be considered
To find out more about our Buying and Selling a business service and how we can help- contact us today.
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