Thinking About Buying a Business? Start Here

So, you want to buy a business. Maybe you’re looking to skip the startup grind and jump into something already running. Smart move. Buying an existing business gives you:

Customers from day one
A proven business model
Existing systems, staff, and suppliers
Less risk than starting from scratch (if you do your homework)
But it’s not as easy as finding a listing and cutting a check.

Here’s what you should actually do:

1. Figure Out What Kind of Business You Want

What are you good at? What kind of lifestyle do you want? How involved do you want to be? These questions help narrow your focus so you’re not chasing every shiny object.

2. Set a Budget

Know how much you’re willing (and able) to invest—both in terms of money and time. Don’t forget to factor in working capital, not just the purchase price.

3. Do Your Due Diligence

This is where you go under the hood. You’ll want to review:

Financials (past 3+ years of tax returns, P&Ls, balance sheets)
Contracts and leases
Customer base and competition
Reputation and brand strength Bring in a CPA and maybe even a business broker to help you avoid costly surprises.

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