Starting a new business isn’t the only path to entrepreneurship. Purchasing an existing small business can be a great option to become a business owner. It can also be a prominent option to grow your business. You’d get a proven track record, an established customer base and/or team, immediate cash flow, an easier path to financing – and you’d avoid some of the risks typically associated with start-ups. Of course, there’s still plenty of room for mistakes. And where would you even start?
Watch this recording to hear from and a panel of entrepreneurs who have experienced the business buying-selling process to learn about business purchasing from different perspectives.
In this session, we covered:
- Pros and cons of purchasing an existing small business
- The buying-selling process (from offer to closing)
- An introduction to business valuation
- Where to find the right business to buy
- How to avoid some of the common mistakes made when buying a small business
Facilitator: Melanie Rupp, Senior Director of Loans & Advisory Services at WeBC
- Pauline Stevenson, President of Excel Career College and Regional Ambassador at WeBC
- Thandi Williams, Owner, Islnd Grl Collective