Buying a business the first time. I am seeking advice in terms of cautions as to what to check before buying a business. What are the difficulties in sign business and what I need to look for. I would really appreciate help from an experienced person in this line of work or someone with experience purchasing businesses in general.Buying a sign printing business any advice or cautions if you have experience in this line of business. Thanks
If it is an ongoing business, be sure customer base is spread out, in other words, one customer doesn't account for more than 20% of the total business. Check out the 20/80 part of your business, 80% of the businesss comes from 20% of your customer base. Do you have a non-compete clause in buying contract?
Will current owner help get you up and running? Are you an employee now, if yes, will customers come with you when the change is made? Current employees, do they know, and if so, are the ok with change, business is hard enough, without having internal problems right out of the gate!Buying a sign printing business any advice or cautions if you have experience in this line of business. Thanks
Theres a company that sells a great package called 'How to Buy a Good Business at a Great Price';. Check out the link below. I'm doing something similar and I've found it to be an incredible resource.
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