Buying a business isn’t too different from navigating an underwater minefield. You have to know where to look for potential problems and the right questions to ask. Due diligence is the process of asking the right questions and investigating the small business opportunity. Great due diligence will give you the upper-hand in negotiation and save you a lot of money when you’re ready to buy a business in Utah.
Save Money on Your Business Opportunity
Business brokers are paid a commission percentage, like real estate agents, when they sell a business. This means not all business brokers are looking out for your best interests, if you are the buyer. Many business brokers don’t know how to properly position a seller’s business. If you are using a broker to sell a business pick a knowledgeable one and if you are a buyer expect to protect your own interests and understand the legal complexities of assuming the business operations. Being represented by a knowledgeable business attorney will enable you to:
- Confidently investigate and purchase the perfect small business opportunity in Utah.
- Avoid underwater mines: bankruptcy, ownership disputes, contract liabilities, IRS claims…
- Save money! A proper review can help avoid miss steps and in some instances attorney’s fees can be offset by a reduction in commissions.
Buy a Business
80% of new small businesses fail.* Buying an established small business helps overcome many of the problems that cause small businesses to fail. The business you are buying is already up and running with existing customers and immediate cash flow. Why take the risk of launching a startup when you can buy into a proven small business opportunity?
“Ted helped us determine a value for our business and walked us through the due diligence process to get us ready.”
–Bruce McMullin, Founder Sibu Beauty