An initial checklist for buying a small business
Buying an existing business can come with certain benefits. But before you buy a business, try to determine whether it's the right fit with this initial checklist.
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If you’re thinking of buying a small business, ask yourself these questions:
- Does it match your skills, experience, and industry knowledge?
- Is it the right size and in your ideal location?
- What advisors will you work with?
- Can you determine a purchase price for the small business based on cash flow, financial projections, assets, or expected return on investment?
- Have you considered how you will pay the purchase price for your acquisition?
If you have solid answers to these questions, then you’re likely ready to take the next steps in the purchasing process.
Learn more about how SBA 7(a) loans can help finance your business purchase.