Interested in Buying a Business?

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10 Steps for Buying a Business
2
Identify the industry you want to be in
Trade magazines and newsletters are a good start
they provide expert opinion on the prospects of
your chosen business.
3
Target the business for acquisition
Think about businesses that are not actively
seeking a buyer, as well as those advertised for
sale. Every enterprise has its price, and tabling
an unsolicited offer may convince the owners that
the time is right to sell.
4
 Research
Before you bring in the experts you can undertake
a little investigating of your own.
5
Open negotiations
Spend time formulating a plan to work towards so
that everyone is pulling in the same direction.
6
The valuation stage of buying a business is
perhaps the most vital to ensuring a successful
purchase.
Evaluate the enterprise
7
The Heads of Agreement
The Heads of Agreement
The Heads of Agreement, though not a legally
binding document, is nevertheless an important
and useful stage in the negotiations process.
8
Due diligence
By this point in the buying process, you will be
intimately familiar with all aspects of the sale
and you should have a detailed understanding of
how the rest of the process should unfold.
9
Sale and Purchase Agreement
The completion of your sale and purchase
agreement will mark the closing stage of the
acquisition process.
10
Pay
You will have a different set of options for
paying for your new acquisition, depending on the
size and scale of your purchase.
11
Completion
Congratulations the business is yours!
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If you are interested in a business from our
businesses for sale page or want to discuss
buying a business with one of our business
brokers please visit our site.
http//sellyourbusiness.co.za/buying-a-business/