| Article Source: MiNeeds.com, where consumers get | | | | coming from 401K’s, SBA loans, Home Equity Lines |
| competitive bids from Real Estate Agents/Realtors. | | | | of Credit? There may be restrictions as to how to use |
| Read reviews, compare offers & save. It’s | | | | some of these funds. |
| free! | | | | 3. Based on your life style, how much income do you |
| Article Link: | | | | need to maintain it, after debt service and taxes? |
| Tags: Selling and Buying a Business in Central Florida | | | | Please keep in mind that most businesses sell at 2-3 |
| So you made the decision to buy a business. Now | | | | times its owners benefit. So that if you need $100K to |
| what?? Well, to begin with, I would recommend you | | | | maintain your life style, you are looking to buy a |
| get the services of a business broker to help you find | | | | business in the range of $200-300K. |
| the right business—it is FREE. Just like in the real | | | | 4. How many hours per week are you willing to work? |
| estate market, brokers get paid a commission from | | | | 5. Are other family members to be working the |
| the seller not the buyer AND, in most cases, the broker | | | | business with you? |
| represents the transaction—where he is not an | | | | 6. What industry am I willing to work in? |
| agent of either the seller or the buyer. Secondly, I | | | | 7. Where am I willing to have this business |
| would really give a lot of thought as to why I am | | | | geographically? |
| buying a business. Do you need to or do you desire to | | | | 8. Do I have the licenses required to run this business? |
| buy a business? In today’s economy many buyers | | | | 9. Am I willing to provide a personal guarantee on any |
| NEED to buy a business to replace a job (Note: Most | | | | notes provided by the seller? |
| of those looking to get a visa REALLY are replacing | | | | 10. Is my credit good enough to get a lease agreement |
| the jobs they had in their country of origin). Buyers | | | | assignment? |
| who desire to buy a business normally spend fruitless | | | | An understanding of what it is that you want/require |
| hours—and those of the broker-- looking for the | | | | when buying a business is critical PRIOR to going |
| perfect business to buy, to no avail. | | | | through the process of buying. Most good brokers will |
| Buyers should consider the following areas, as well: | | | | help you determine your viability to buy a business. |
| 1. What are you looking to invest? One should | | | | Once you know what it is that you are looking for, the |
| understand that the equity used to purchase a | | | | broker can help you get there quickly and efficiently. |
| business IS NOT the only equity required. In many | | | | Should you want to know more about selling or buying |
| cases, a significant work in capital amount is required | | | | selling a business in Central Florida, please contact me, |
| to begin running the operations of the business | | | | Fernando Simo, at 407-361-8886 and/or visit my |
| effectively—marketing, distribution, inventory, | | | | webpage at |
| additional fixed assets, etc. | | | | Was the Article Useful? |
| 2. Where are the funds you want to invest? Are they | | | | I hope you enjoyed the article! |