Tips on BuyingYou should be informed about the buying process
COME PREPARED FOR THE NEGOTIATION
WITH OUR ADVICE & TIPS
Remember that if BCI Business Brokers is the vendor’s agent, we won’t be advising you during the investigation or transaction stage.
With our expertise from the many hundreds of transactions we have been involved in as business brokers, we have listed some useful tips that you should consider before making a decision:
- Ask yourself “Is this the type of business I would enjoy running” and “Am I right for this business?”
- Rely on your professional advisors, but at the same time try to understand as much as possible what is happening in the negotiation and exactly what it is that you are buying
Our experts can help you with that part
- Always have more money than you think you need to complete the transaction
- Don’t bother asking the vendor why they are selling. Spend your time investigating the opportunity
- Be prepared and try to avoid any surprises that might end the deal.
- Research the industry you are buying into. Is it dying, under threat from disruption or in any other way an “endangered species“? Use Google to find out what people are saying and how many competitors there are. Check out their websites and if you have time – ring some of the main industry players to see how they operate
- Research the market that you will be serving
- Prepare a business plan, the most important parts of which are – the financial budget for your first year, and a marketing plan. How will you get customers?
The above tips are offered for what they are worth. Each circumstance should be addressed individually.
For more information about Buying a Business
Businesses For Sale
MORE INFO HERE
Get a Free Appraisal For Your Business
Develop Your Business With our Free Ebook!
MORE INFO HERE
They opted for BCI:
Founder and M.D. - Jump Start
" I sold my business for the price, terms and hand-over that I wanted, and it was all because of Tony. His decades of experience and excellent people skills gave me confidence, reassurance and guidance throughout the entire process. He had ... "
M.D. - Sherlock Consulting
"For 20 years plus I have seen the results of Tony’s business and the professional way he handles his clients….. He is a man of action and stands behind his words….. It’s nice to see and meet a person who is courteous, honest and willing to go the ... "
Director - Fields of Beauty
" Tony, Thank you, for your commitment, professionalism, and dedication to selling my business . I could not have asked for a better broker to sell it! ... "
Director - PALMERBIZ
" If you are considering selling your business, don’t waste your time shopping around for a broker that doesn’t even understand business. Go straight to BCI Brokers and get the professional service that you deserve ... "
Director, Franchise Systems Grp
"Tony puts the interests of his clients at the forefront. He takes a proactive approach to each project and helps his clients understand the reality of the situation. He knows what is required to get a positive result and has proved to be a longstanding colleague ... "
Pro. Services Franchisor
" I have worked with Tony over a number of years in different capacities, firstly as a Franchisor with Tony brokering the sale of a franchisee in our system and then as an advisor to our system. On all occasions I have found Tony to be well informed and ... "