Making the leap to buy an existing business shouldn’t be taken lightly. When you opt to purchase an existing business, you’re choosing to purchase the business as a whole. This includes the business’s financial record, inventory, influx and output of cash, employees, and list of clients. These factors can all require more cash upfront. With over 30 years in the business of assisting buyers and facilitating sales, Atlantic Business Brokerage can help provide the professional guidance you’ll need when you choose to purchase an existing business.
Decide What Type of Business You’d Like to Buy
Prior to even beginning to purchase a business, you should think about what type of business you’d be interested in buying. When you purchase an existing business or franchise, you can skip the legwork of starting the business from scratch – but be mindful about what type of industry you’d like to enter into. It’s always a smart financial decision to invest in industries that you have prior experience in, which can potentially help lenders provide you with a more favorable loan.
Take into Consideration Your Budget
The purchase of an existing business can be costly for a buyer. You’ll want to take into consideration your budget for the purchase of the business, potential debts that may arise, whether the location is profitable, and if existing equipment or décor needs to be updated.
You will also want to consider the business’s long term outlook and whether it has had poor or robust profit throughout the years. After you’ve set aside your savings, you can determine additional expenses needed from a lender.
Assemble Your Team of Experts
Atlantic Business Brokerage can help you explore businesses available to purchase while taking into consideration your interests and budget. We specialize in the sale and purchase of franchises, with popular brands like Five Guys and others across the United States. With numerous listings for buyers to browse and upfront pricing available to view, we can simplify the buying process of an existing business for you. Contact us today to discuss your business goals!
Buy With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.