RESEARCH BUSINESS OPPORTUNITIES

Business ownership can offer you financial rewards and a great deal of personal satisfaction. Preparation is a key factor in buying a business. Motivated buyers should weigh their options carefully before selecting a business to purchase.

Consider the following factors as you are deciding what kind of business to buy. Bottom Line Management will work with you to determine how your strengths and interests will align successfully with businesses that are available in the marketplace.

• What do you enjoy doing the most? Are you technically skilled in this area?
• What are your strengths and weaknesses?
• Are you motivated to do whatever it takes to make your business successful?
• Do you have the interpersonal skills to work well with clients and employees?
• Do you have a business plan with achievable goals?

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THE BUYING PROCESS

Rollover the chart below to learn more about the buying process

Determine what you hope to gain from your new business and be honest with yourself. Understand your strengths and weaknesses and any limitations you may bring to a new business. Outlining your goals and capabilities upfront will be the cornerstone of your success.

Put together a comprehensive Personal Financial Statement and be sure that your bank records, tax returns and personal bookkeeping are up-to-date. Depending on how you choose to finance your purchase, you will need any or all of this documentation at your fingertips.

Finding the right business starts with selecting a qualified and experienced broker. BLM has expertise that is both deep and wide in over 200 industries. We will guide you in researching prospective sellers and help you to target the right fit.

Know what you want to do with a prospective business and where you want to take it before putting in an offer. With clear objectives for the future, you will understand what you are willing to negotiate for the business and you will have a plan of action from day one of ownership.

BLM will work with you to craft an attractive offer to your prospective seller. We are skilled negotiators and can get you under contract quickly minimizing the "back and forth" time.

Examine the books and records of the company you wish to purchase carefully. We encourage you to work with a CPA during this process to ensure a clear stamp of approval of the business' financial health.

We will work with you through the closing to ensure that all the necessary paperwork is in order and that the business has seamlessly transitioned to you.

You will typically have a training and transition period negotiated with the former owners of the business. This period generally lasts about 4 weeks.