From BDC
The decision to buy a business is a significant one, and this comprehensive guide from BDC provides practical advice to help you make the right choice. It offers a step-by-step approach to evaluating opportunities, ensuring you invest wisely and set yourself up for success.
What You’ll Learn:
- Key Factors to Consider: Discover what to look for in a potential business, from financial performance to market potential.
- Evaluating Opportunities: Learn how to assess a business’s strengths, weaknesses, and fit for your goals.
- Financial and Operational Analysis: Understand the importance of reviewing financial statements, operations, and legal aspects before purchasing.
- Tips for Negotiation and Purchase: Get expert insights on making a fair offer and navigating the buying process.
Common Options:
License a Franchise – With a franchise, you license the name, products, operational practices and other elements of an established business and/or brand. They’re an appealing option for entrepreneurs who want something readymade they can get up and running quickly.
Buy a Business – Buying an existing business lets you skip the expensive—and risky—start-up stage and gives you an established market and customer base to start serving right away. There are a few ways to go about this.
License a Product – You don’t have to buy an entire business to grow. You can expand your offering by licensing the right to manufacture a product designed by someone else, such as a new invention the patent holder isn’t able to produce themselves or a trademarked product from another country.
Whether you’re new to entrepreneurship or an experienced investor, this article will equip you with the knowledge to make confident, informed decisions.