Every business is different, but in this video I'm sharing 5 'first steps', or tips, which we think are useful when buying any business.
Following these steps will help you take a planned approach to what may well be one of the biggest financial investments of your life.
They're each important in their own way, but I must admit Tip 2 – 'Have passion for the opportunity' – is a key one for me.
Owning a business can be difficult at times, but it's easier to withstand those challenges if you have a 'fire in your belly' for what you do.
As we tell our clients, a good business purchase is about planning and ensuring you have plenty of information to base decisions on, rather than rushing in and letting emotions take over.
You can also use our free JPAbusiness Business Buyer’s Checklist to help you ‘make a match’ between your requirements and risk profile, and the business you are assessing.
JPAbusiness offers a range of services for business buyers, including:
- Business finder services
- Valuations and market appraisals
- Custom due diligence
- Purchase negotiations support
- Transition and business planning support.
For more information about our services or for a confidential initial discussion with a member of our business advisory team, contact JPAbusiness on 02 6360 0360.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.