Well-planned investments go a long way, especially with franchises. Business sales are not a fast process, and they should not be. Without proper investigations into the business you are buying, you could end up with debt, poor working conditions, and other anomalies. Here are some things you should consider before buying your franchise.
Research Pricing and Locations
Do your research ahead of time to save yourself a headache down the line. Locations affect pricing and the type of financial help you can get. Atlantic Business Brokerage works across the Washington, DC metro area to give potential buyers the most information they can. Certain franchise businesses will have varying levels of pricing depending on how recently it was updated and if there are any lingering issues with the company.
Order a Business Valuation
All business sales should have a business valuation. Whether or not the seller has gotten a business valuation, make sure it is up to standard. It must have been conducted in the past year and by a reputable evaluator. Atlantic Business Brokerage has access to phenomenal business evaluators that complete their jobs on time and thoroughly. Businesses sold by ABBI must have business valuations from reputable sources, so it is unlikely you will need to order another one if you use our resources. Business valuations analyze the financial situation of the business you are looking to buy. It looks at any lines of credit, purchases for the business, and renovations. Upon completion, you will be able to analyze the report yourself.
Ensure Your Financing is Available and Ready to Go
Before any large purchase, you should make sure your finances are in order. Buying a business is like buying a home. There should be evaluations, inspectors, and financial advisors involved to ensure you pay an accurate price. Financing options come in a variety of looks. Without ready-to-go financing, your business sale may fall through. There are co-investors, family members, and lines of credit to consider. Consider contacting the headquarters of the franchise company to see if they offer financing programs to potential buyers.
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. Contact us to discuss your business buying and selling goals today at 410-561-9800 or Toll-Free at 800-279-7569. Email us at [email protected], and follow us online on Facebook and LinkedIn.