If you are looking into buying a business for the first time or are looking to make an offer on one then there are several things that you need to do and be aware of before you close the deal. If you’ve already made an offer on a business without even using company valuation tools necessary, then you’ll probably need to back pedal a little bit and make sure that all the following things are in order.
Buy the Assets, not the Business
What does this mean? Basically, don’t just buy stock in a business. If a seller is an LLC or a corporation, that is something that they will probably offer. Don’t fall for it. Instead, buy the assets of the business so that you can make your own company. The main reason for this is so if the seller owes anyone money or is being sued for something, you