HOW TO BUY A BUSINESS

This is a time for introspection: What kind of business is of interest, and why? What are the expectations and where is there flexibility? Where is there potential? Consider looking through the free Pathway to a Successful Purchase Workbook for more details about the buying process. 

Browse business listings while trying to notice trends and patterns in what causes you to linger or move on. Where do you see the potential? Is there a business that isn't a perfect fit, but could be great with a few changes? 

Compare similar businesses and record more details about the business(es) that interest you. Create a list of questions. Try to zero in on a single business.

Speak with someone who knows the business market, understands the buying process, and can answer your questions to help guide you to a sound decision.

This is the time to settle in and get a feel for how the business operates. Make small, simple changes that can be easily implemented in the short term.

Start thinking about long-term changes to make in the business and the steps to get there. As the business grows, access free and low-cost resources, including additional financing, through Community Futures.