Businesses are generally bought for several reasons. The reasons vary from becoming a successful entrepreneur who will have the opportunity for financial stability, being the boss, career change, don’t want to retire, adding to ongoing complimentary business, investment, as well as other reasons.
Buying an existing business is the most popular route used. It is usually much safer and more profitable to buy an existing business than starting a new venture. According to the Small Business Administration, over 50% of startup businesses fail due to unproven concepts, lack of working capital, and poor management.
Some of the things that need to be considered for the potential business purchase are location, type of business, personal experience in that particular business environment, skill level match, interest in the type of business, and income level that is needed and financing.
Using Texems business broker can offer experienced help in finding a business and coordinate the sequence of events that need to take place. The vast majority of all business buyers are first-time buyers, unprepared to meet the complexities of acquisition transactions.
Texems can direct the buyer to expert advisors such as accountants who can assist with the due diligence process and give sound advice on tax and record keeping issues. Being able to review a company’s existing track record as reflected in P&Ls, tax returns, and other financial records is a good indicator of future profit.
Unless the buyer is ready to pay cash for the purchase of the business, a finance professional is generally needed. Texems is affiliated with professional financial institutions which are ready to assist in the purchasing process.
Among other affiliates of Texems, are seasoned attorneys who deal with mergers and acquisitions on a daily basis. The attorney is a great resource for any legal questions or needs that will arise.
Texems would be glad to meet with a buyer in order to professionally plan the business acquisition, meet the business owner, or tour the facilities and operation. Texems will explain the basis on which the business was valued and the terms of sale required by the owner.
Texems keeps all proprietary information obtained about the business confidential. In most cases, the employees, customers, suppliers, landlords and lenders are not aware that the businesses are for sale. Premature disclosure could have a negative impact on the business being sold.
Please contact us by phone or email. We will promptly respond to your inquiries and work hard to locate what you need.
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Henry Bell - Ambassador of Commerce
972.369.2676 or firstname.lastname@example.org