Buy a Business (continues...)

The followings are pros and cons of buying a business. Business owners thinking of buying a business should use the following The Buy a Business Pros and The Buy a Business Cons as a guide when considering a business to buy.

The Buy a Business Pros

• The business is 'up and running' already.
• Cash flow.
• Profit history known.
• Existing client base.
• The previous owners are likely to lend support and goodwill.
• There is a tried and tested business formula to emulate.
• Existing infrastructure - employees, equipment, systems, suppliers and
  customers.
• Qualified and experienced staff.
• Established market position.
• Easier to get funding.

The Buy a Business Cons

• A large investment is often required-business transfer costs i.e. legal fees, surveys, accountants etc.
• A significant amount of time and travel required researching the opportunities available.
• May require relocating yourself and family.