|
RealEstate4Charity can greatly help you in purchasing a business.
Here is a summery of what is involved in such a process:
-
We assess your desires
to acquire a business.
-
We will have you pre-qualified.
-
We ask you to contact your bank
and inform them of your intention to purchase a business.
-
We will familiarize you with
the offer process and the forms.
-
We will identify the specific
business you desire and can afford.
-
We will review the financial
statements and background of the businesses for sale.
-
We will handle all
communications with the business owners and their brokers.
-
We will prepare and make an
offer on the business.
-
We will help you to clear off
the contingencies of the purchase.
-
We will help you all the way
toward closing the escrow.
Advantages of buying an
existing business
-
Some
sellers finance a part of the sale, as it allows the buyer to
utilize the business's existing assets with less outside
financing such as SBA loans.
-
The
business already has customers.
-
Sellers
often provide management training and they will show you how
to run the business, sharing inside knowledge.
-
An
advantage of buying an existing business is that once you
review a company's existing track record as reflected in their financial statements and
tax returns, you minimize the
risk of making the wrong decision.
-
Gaining
established customers significantly reduces the time and
marketing costs it would otherwise take to attract an
adequate number of customers to support the overhead of a
new operation.
-
Obtaining
or transferring existing licenses and permits can often
reduce the time and cost of making application, gathering
information and conforming to required regulations, not to
mention leasehold improvements already in place and
operating as a turnkey entity.
-
Sources of
capital to purchase existing businesses are more readily
available than for startup ventures. It is also at times
possible for the seller to finance a portion of the purchase
price as long as they are secure from a collateral viewpoint in
their position as a lender. Banks and other financial
institutions prefer to loan money for existing operations
that have a proven track record than to fund high risk
start-up ventures.
-
Existing
successful businesses have a proven track record of
profits that will most likely continue long after the
business sale. Now, you get to apply your new ideas,
expertise, and renewed energy to take the business to even
higher profitability.
|
