The following video features 5 tips that will help you take a planned and measured 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.
We've created the following free resources to help our readers get started on that planning process:
- eBook – Buying a small to medium-sized business
- eBook – How to conduct due diligence on a business purchase
- Template – The Business Buyer's Checklist
- Template – Buying a Business Planning Sheet
- Template – Buying a Franchise Planning Sheet
At JPAbusiness we also offer 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.
If you would like advice or support with any aspect of buying a business, please contact the team at JPAbusiness on 02 6360 0360 or 02 9893 1803 for an obligation-free, confidential discussion.
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.