We recently posted the 8 questions to ask when buying a business, now we highlight each question in a little more detail.
What financing alternatives are available?
One of the biggest hurdles when buying a business is to see if you can truly afford the business you want to buy. If you don’t have the cash available, you’ll need to begin examining who might finance the business you’re buying and how much that financing help will cost. You can begin with friends and family, but many end up dealing with your typical lending institutions (such as banks and credit unions). Typically for a lender, financing an established business, is considered to be less risky than financing a start up. Another option is to request the seller provide financing.
About Brightblue Transition Solutions
Located on Vancouver’s North Shore we are the premier business broker in the lower mainland, contact us if you need any help buying or selling a business in the greater Vancouver or lower mainland areas.