|Looking to buy a business? Don’t do so without a professional intermediary. Allow Empire Business Solutions to help you find a business that meets your needs.|
At EMPIRE, we are advocates of finding a business that you like and would feel comfortable managing. You, like every other prospective buyer, have a vision of being your own boss and calling your own shots. A business must fit your visions to be successful.
An old saying in the real estate industry is….”The three most important things a buyer should look for are location, location, and location.” While location is important to a business buyer, be aware that track record and management round out the three components of a successful business.
Let’s assume that you find a business that you like and its location is fine. But, because of poor management, the business may not show the greatest track record. Purchased for the right price and on the right terms, this business could become more successful with proper management, making it a good way to achieve your vision of being in business for yourself.
As a prospective buyer, you will be concerned as to why the business owner is selling the business. Business owners sell for a variety of honest reasons. Besides the obvious reasons of retirement, bad health, or re-location, many sellers simply tire of doing the same thing and want to move on. If it is a good business for you, the reason for the sale doesn’t matter.
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