Simple Steps To Help Buy A Business

Is it your dream to buy a business?

Business For Sale

People whom buy a business for the first time know it can be confusing. Following a few simple rules can help put your mind at ease when buying a business. We have had thousands of businesses for sale in Manchester and around the North-West since we established in 1979 and over that time we have witnessed the change in business owners needs.

Visit the area

Once you have received and reviewed the business brochure visit the area and view the business from the outside. This will give you a fantastic idea as to whether there is a niche in the market for your business. Visiting the area also aids in buying a business as it arms you with lots of questions you can bring to the formal viewing.

Viewing a business

At this stage you have decided the business is suitable and you would like to view the business for sale and meet the owner. Contact the agents marketing the available business and arrange a formal viewing. Usually staff are not aware the business is for sale so make sure you arrange any viewing through the agency.

Due diligence

The business for sale ticks all the boxes and you would like to take your interest further. It’s standard practice to request accounts (most banks will request 3 years worth of accounts if applying for business loans). Determine whether your business model will fit in with the location, size of the unit and the demographic of the area.

Make an offer

Buying a business can not happen unless you make an offer! Contact the agency once you know the level of funds you possess and place an offer. There may be a negotiation period at this point so be aware of your ‘maximum offer’ before beginning.

Buy a business

Congratulations! You have just bought your first business… We would like to wish you the best of luck.

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