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Episode Info:

Buying an existing operational business can be an exciting time. It can also be one of the most dangerous & risky times. When you buy an existing business you are also buying a lot of potential for expensive mistakes to occur. There are many components and moving parts to an existing business such as: Customers, Suppliers, Finances, Taxes, Landlords, Financiers, Licensing Bodies, Marketing Collateral and Plant & Equipment to name a few.

A properly conducted due diligence of the business you are buying acts as a double check and verification of what it is you are buying and that what you are buying is what you are expecting to buy for your money.

There are many cases where purchasers of businesses have skipped having a proper due diligence conducted and it has led to very expensive mistakes and problems once the business is purchased.

In this episode we cover

  • Why it can be a good idea to buy an existing business.
  • The different ways you can buy an existing business.
  • The risks and potential exposure you face when buying an existing business.
  • What is a Due Diligence
  • Why you need a professional Due Diligence when buying a business.
  • The risks of not having a proper due diligence when buying a business.

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