Practical Business University S02 – Buying an Existing Business -

S02 – Buying an Existing Business

 When considering the purchase of an existing business, due diligence or investigation, is the essential process for assurance that you are receiving the value which is being represented about the business. It is imperative that you ask the right questions about the business and that you receive the supportive documentation of the current position of the business. You need to examine both the financial and non-financial aspects of the business which are indicators of the future well-being of the business. Learn the steps you need to follow when purchasing an existing business.

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    Buying an existing business requires asking the right questions about yourself and about the business you are thinking of buying. Ask yourself: Why do I want to become a business owner? Do I have experience in that business? Is the business in a growth industry? What kind of owner do I want to be — work in the business or manage people, or both? When considering the purchase of an existing business, due diligence or investigation, is the essential process for assurance that you are receiving the value which is being represented about the business. It is imperative that you ask the right questions about the business and that you receive the supportive documentation of the current position of the business. You need to examine both the financial and non-financial aspects of the business which are indicators of the future well-being of the business. Learn the steps you need to follow when purchasing an existing business.

    Mentor: Shauna Wekherlien

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