| Have you found your ideal niche for starting your own | | | | process. |
| business? Do you already have a micro-niche to focus | | | | The Buying / Selling Process |
| on? Do you have plans of expanding your business | | | | Gear up with the careful step-by-step details for a |
| online for global purposes? Why not go for franchising | | | | faster and safer buying and selling business process. It |
| or buy an existing business for sale? | | | | basically starts with a Purchase and Sale Agreement. |
| Your decision to start your own business from scratch | | | | This is a very detailed and descriptive contract the |
| or invest some funds to buy a business to start with | | | | buyer presents to the seller. |
| depends on some financial and personal | | | | This contract carefully states such vital information as |
| considerations. There are many other factors to | | | | the amount of initial deposit, the buyer's offering price, |
| consider here but buying an existing business offers | | | | closing date and financing terms. It should also include |
| more security and establishes a business identity | | | | such supporting statements as the buyer's lease and |
| quickly. However, it involves a complex process that | | | | landlord's approval, information in getting permits and |
| should be carefully dealt with for a safer business | | | | licenses, closing cost allocation, amount of inventories |
| buying experience. | | | | and supplies, satisfaction of books and records, |
| Pre-Buying Concepts | | | | securing business equipments in good condition, seller |
| Start your business buying adventure by canvassing | | | | non-competing agreement and buyer training session. |
| prices of every potential business that is available for | | | | All details here need to be carefully written in very |
| sale. Know how much money could you set for such | | | | clear statements to avoid confusion or conflicts which |
| an investment. Compare down payment rates and | | | | may arise in the future. When you are ready with the |
| some other expenses involved like escrow fee, | | | | contract, present it to the seller and be sure to discuss |
| franchise transfer fee, supplies, inventories, permit and | | | | it thoroughly or negotiate for the terms and conditions |
| license fees. | | | | and the price involved. |
| Once you get the grips of your desired investment | | | | Your next step is to have your purchase price |
| criteria and budget, carefully plan your criteria and | | | | allocated to apply for the permits and licenses covered |
| position in the business world by doing online research, | | | | here and then the loan. A lease or a sublease is |
| going through local newspapers, asking real state | | | | needed in getting things done here. secure your lease |
| agents and local business brokers. If you have short | | | | assignment approval before escrow closes. Review |
| listed some business potentials you consider, assess its | | | | the list of equipments and fixtures as stated in the |
| current status and project income potentials for short | | | | contract and purchase supplies and inventories before |
| or long term goals. If you are now sure to get that | | | | closing date. You then close transactions on the closing |
| particular business as an investment opportunity, then | | | | date and officially starts running the purchased |
| get ready for a safe and secure business buying | | | | business as your own. |