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The Buying Process

At Premier Business Group, we work with both experienced business owners who may have owned multiple businesses as well as first-time buyers who may be intimidated by the process of buying a business.  You can rely on our expertise to ensure a smooth transaction is executed. 

While buying an existing business typically involves more upfront cost, it also presents less risk than starting from scratch. Financially, you’re looking at actual profit and loss records rather than rough estimates, and there’s a clear history of sales.

Purchasing a business is a huge decision that will impact your life and livelihood for many years. If you are unsure about what kind of business you may want to buy, you may want to consider these kinds of factors: 

  • Location: Are you open to moving, or do you need something close to home? Or maybe you’re looking at businesses not tied to a specific location. Either way, remember that the location of your business will affect labor costs, taxes, and other financials that can change the bottom line.
  • Size: Do you want to own a small family business, or a large, bustling enterprise? Buying a larger business could mean bigger profits, but will likely also involve a higher purchase price and more stress in the transition. 
  • Industry: What are the areas where you already have experience? What causes are you passionate about, or what hobbies are you interested in?
  • Lifestyle: Are you interested in a job involving lots of travel? Are you open to working odd hours, or would you rather stick to a traditional nine-to-five? If so you may want to think twice before choosing the kind of business that might involve emergency phone calls at 3 a.m.

Once you think you know the type of business you want to buy our brokers at Premier Business Group can help you with your search and advise you through the transaction process.  Contact us to find out more about the buying process.