For those who want to have their own business, but are not ready to create it from scratch, business acquisition is the best solution. After all, you can get a ready-made working company with a formed team of professionals and a client base. To buy a profitable business, it is important to remember certain rules for buying it.
Instructions
Step 1
The first step to acquiring a business is to find a business that you like for one reason or another. If you buy a business in order to run it, and not resell it, then it is better to choose the company that is engaged in what you are interested in, what you are good at.
Step 2
In order to acquire a business, it is important to find a business broker who can help you arrange the transaction properly. Usually, a whole company is hired, which provides services both of a legal nature (business verification) and is directly involved in the sale.
Step 3
Ask the business broker or owner of the acquired business why the company is being sold. If you are not satisfied with their answers, talk to the employees. Perhaps this business is not profitable. Collect all the data about the seller and try to understand what exactly makes him sell the business.
Step 4
Find out any other business-relevant issues. It is important that you are granted not only all the property of the company, but also the rights to the trademark, logo, etc.
Step 5
After clarifying all the controversial points in relation to the business, it will be necessary to conclude an agreement for its purchase. The contract must contain the following conditions:
1. the subject of the contract is the business itself, its exact description;
2. method of payment and terms;
3. possible changes in price;
4. guarantees and instructions of the seller;
5. restricting the seller's ability to compete with the business being sold after the transaction;
6. penalties in case of non-compliance with the terms of the contract.
Step 6
For those who want to minimize the risks when buying a business, it is beneficial to use franchising. This means that you acquire the right to create a business according to a certain formula (i.e. one that already exists - McDonald's, Starbucks, etc.). Thus, you will participate in an already well-known business scheme, you will initially have clients. But at the same time, you will not be completely independent, since you will be obliged to deduct a certain amount on a monthly basis to the franchisor (the one from whom you bought the business).
