We recently posted the 8 questions to ask when buying a business, now we highlight each question in a little more detail.
Why is it for sale?
The first thing you should do when buying a business discover the real reason the business is for sale. What is the motivation behind selling? Some times you can’t just take the seller’s word for this. Many business owners do retire or even get sick, but the real reason could be due to increased competition, losing a key contract, fading economy or more. If you’re unfamiliar with the business you’re buying in to or the area you’re thinking about getting in to then you can uncover the real reason(s) the business is for sale by talking to people who are familiar with the history of the business like local business brokers, suppliers and customers.
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.