Is Buying An Existing Business Easier?
Buying into an existing business gets you an existing client base. It can also bring you in an armful of problems. Before you buy, consider these key points. Business Structure. When you buy a business, the structure is already in place. The customers of the business are already trained to expect certain things. If there are employees, they work the way theyve been taught by the previous owners. Systems are in place. The easiest way to tell how strong the structure is would be to actually work in the business for an extended period of time with the current owner (several months). See how he works. Hear how he speaks to his customers and employees. Have him go into detail on his systems. When starting your own business, you have no structure in place. You are in charge of determining the systems that will run your business. You can model others you know and respect. You establish the systems, and run them your way. Financials. How good are the numbers of the business? What are the sales
