So you want to buy a business in 2013? You have the plan and the intention but now what? I'm here to help!
Before you purchase any business consider the asset-based valuation;. This is a method in which the value of the business is determined by the total value of the company's tangible and intangible assets. It is a great way to see if you are getting as much bang for your buck as possible.
Seller financing also helps the person selling, and your potential resale, value of the business. Although financing part of the sale is not an option for every seller, buyers are willing to pay more for businesses that include some level of seller financing. Business owners who use their network and business-for-sale website listings to advertise their willingness to finance part of the deal should expect a significant uptick in the number of offers.This can also make a business purchase more competitive for you- the buyer!
Need more information and tips on how to buy a small business in 2013? I'm available for consultations and coaching.