The advantages of buying an existing business is that because of its already proven track record, it will be easier to obtain finance and will already have an established customer base, revenue stream and reputation that you can build upon. In addition, you may have the ability to buy a business that will complement your existing business in some way.
The two priorities when looking to buy a business are do you have the necessary resources to invest both in time and money in buying the business and undergoing the necessary due diligence to ensure that the business will be a success following your investment.
You must ensure that you find the right fit; look beyond the numbers to ensure that the two different business cultures and ethos are a good fit.
How can we help:
Due diligence work
Get up to date financial and legal information and get it professionally analysed.
Assist in raising finance
Invariable the decision to buy another business is going to mean some capital investment will be required. We can help to discuss and evaluate the options available as well as assist in any financial applications which may be required.
Business plan
It is very important to put together a plan of where you see the business going and an idea of performance to target.
Tax planning
Ensuring that any deal is structured in a manner to maximise tax relief on the purchase of the business.