Buyers What Is Most Important

What is the most important thing a buyer should know when they want to buy a business?

The answer is not a detailed knowledge of business values, or to know how to run a business, these although importnat can be learned.

The most important thing to a buyer is to search for businesses which you can afford.

I answer buyers questions on the businesses for sale buyers forum at www.businessesforsale.com.  Direct link http://tinyurl.com/ypq9lq. 

On this forum are so many potential “business buyers” who spend time enquiring about businesses which they actually do not have the money to buy.

Perhaps they think that a bank will lend them all of the money, but the fact is that for a leasehold business you need all of the money in some format or another.  So if a business is advertised at £50,000 plus stock of £15,000 you would perhaps need c. £70,000 to buy that business in one format or another.

So the most important thing a buyer needs to know is how much money is actually has, and whether he can afford to buy a business in the first place.

Knowing this will save him (and sellers) a considerable about of energy and time.

This entry was posted on 24/04/2007 at 03:58 pm and is filed under Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.