Below Is our Collection of Sites For Retail Businesses For Sale
In this post you can expect a collection of web pages I have selected related to buying a retail business, but first a few brief points.
Some Pros and Cons Related to Buying a Retail Business
- You don’t have to wait weeks or months for the business to become operational.
- Since you’re buying a business, from day one, your business is open and generating revenue.
- When you buy a business, you’re buying the customer base. A loyal customer base is an asset that takes years to build.
- Your brand & reputation is already in place people are custom to making purchases.
- More in the resources to follow
- Sometimes it’s easier to start a new business than to turn around a business that is in operation.
- The business your buying may come with old baggage, that could be a bad reputation, debt, pending lawsuits, and other issues, that are difficult to clean up.
- More in the resources to follow.
When buying an existing business, you want to make sure you do your research. You want your accountant to go over the books to ensure everything is in order, and verify revenue and expenses.
You’ll want a reputable lawyer to do an extensive check for existing debt and pending lawsuits against the business.
Visit Before Buying:
Another good tactic is to casually drop in when the business is running to see the activity that’s going on.
Make sure your visits are unannounced and at different times of the day and different days of the week.
Unannounced visits will give you a general idea of what to expect when you take over. You may also want to have a friend unknown to the current owner to drop by and do some shopping or request information about services offered.
There are a lot of things to consider when purchasing a business. Have a look at the collection of resources selected for this post that deals with buying an existing retail business.
Each section contains articles written by experts, regarding purchasing a business.
Now, To The Resources:
You’ll find a selection of hand-picked, articles, and resource pages provided by a variety of authors I wanted to include in this post that will give you a solid foundation regarding buying a retail business.
If you find this post useful, please share it or bookmark it for future use, because of the number of resources in this post it’s a lot to go through in one session.
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