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Buying A Business With Confidence

25 Nov 2021

BUYING A BUSINESS WITH CONFIDENCE 

 

Reasons for Buying a Business

  • To have their own business – rather than work for someone else

  • A change of career

  • As an investment

  • Add to an existing business

 

Why is it important to Buy a Business with Confidence?

  • There are very few ‘major’ purchases the majority of people make in their lifetime

    • House (hopefully an increasing asset)

    • Car (easily changed)

    • Business (only increases in value with hard work – and its success is the basis behind the other two above)

  • A very expensive mistake if not properly thought through – with possible knock-on effects

  • As you would with a house or car, determine in advance how much you are prepared to spend on a business, and how you are going to finance this

  • Don’t forget you will need some initial capital to promote the business

  • Prepare or get prepared for you a profit forecast and cashflow forecast for the business for the next 1-3 years (and don’t forget to include your financing repayments)

  • Also work out your weekly/monthly breakeven position – what you have to take to survive

 

Buy a Business with Confidence – ensures:

  • Greater opportunity for success

  • Less opportunity for mistakes

  • Money well spent

  • Greater return

  • Easier to sell the business at a later date – as you know it is marketable

Arguably as a Result – Buying A Business With Confidence

Will create a More Enjoyable and Successful Experience

Speakers
Robert Carpenter, CEO

Sponsors