The business acquisition can become a terribly complicated process. It becomes more complex when you consider other prevailing factors such as legal and people issues. That aside, the process can still turn out to be rewarding if you have carried out extensive research about the business.
A business buyer will need a lot of support and advice for the new experience. Sometimes we represent business buyers to buy businesses that are not be represented by us from the seller’s angle.
Some major reasons why people end up buying the wrong businesses are:
-It was their first time buying and they had been overwhelmed with the business buying process.
-Most businesses for sale have been overpriced and arrive with a whole lot of problems.
-Buying businesses that don’t suit them as regards skills, knowledge, personal interests, and personality.
-Inadequate due diligence process. For the fact that business look so promising in regard to profit does not mean it would not encounter challenges
-Inadequate business valuation. There needs to be a detailed analysis of the business to find out the right price to pay for it.
-Over excitement and eagerness to own a new business thereby overpaying for it.
We are here to help you to avoid the million dollar mistake.