What is involved in the process of buying a business?
This will vary from business to business and may well depend on your particular needs. Firstly decide what you want from the business. Are you looking for regular income, or are you planning on building up a business to sell in the future? Decide what industry you wish to enter. Be realistic. Do you have the skills or qualifications required? Do you have experience in that particular industry? Are you prepared to relocate for that ideal business or are you looking for a business to fit in with your current life? Have a budget in mind, as you would if buying a house and if necessary an agreement of finance. Do you want to buy a freehold business, where you own the premises as well, or a leasehold business, where you own the business but rent the premises? Make sure you research all the relevant businesses available and make sure they meet your criteria. At Preferred Commercial, you can register your requirements with us and we will automatically supply you with information on any busine
