|
|
|
Steps for Adopting a Business by Cleo Gib
|
|
|
Steps for Adopting a Business |
|
|
|
Business
|
|
When you adopt a business, there is less risk than starting your business from the ground up. With the help of your business broker in St. Paul, you can start acquiring your business using the following steps. Choose the Business Think about your interests, skills, and experience. Think about the location of the company and the time commitment that you would like to put into the business. Research the companies that you could acquire. Learn as much as you can about it, especially discovering why the company would be willing to sell. Complete Due Diligence The next step that you should take is to complete due diligence. You should obtain licenses and permits. Get the zoning requirements and complete any environmental testing necessary for the company. Due diligence will help you understand the risks, liabilities, and other issues that you'll have to deal with when acquiring the business. Determine the Value Based on your research, you'll need to come up with the value of the company to help you determine how much to pay to acquire it. There are several methods that can be used to determine the value of the company. Some of the methods used include tangible assets or return on investment. Your broker will determine which method to use based on the company, the challenges that the company faces, your needs, and your goals for acquiring the company. Draft Letter of Intent Once you've decided to move forward with the purchase, you'll need to draft a letter of intent. The letter should include the proposed price, the purchase terms, and any conditions that the company should know to move forward with the purchase. Your broker can help you draft the letter and make sure that the legal requirements are met. Throughout the steps and the rest of the process, your business broker in St. Paul can help answer your questions and make sure that everything goes as smoothly as possible. Contact a local broker today to learn more and start these steps.
Related Articles -
business, broker, in, St., Paul,
|
Rate This Article |
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
Reader Opinions |
|
|
|
|
|
|
|
|
Author Login |
|
|
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
SUSAN FRIESEN
Located in the lower mainland of B.C., Susan Friesen is a visionary brand strategist, entrepreneur, ...more
|
|
|
|
|
STEPHEN BYE
Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
|
|
|
|
|
SHALINI MITTAL
A postgraduate in Fashion Technology. Shalini is a writer at heart! Writing for her is an expression...more
|
|
|
|
|
ADRIAN JOELE
I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
|
|
|
|
|
JAMES KENNY
James is a Research Enthusiast that focuses on the understanding of how things work and can be impro...more
|
|
|
|