Buy a Business

10 STEPS IN CHOOSING A BUSINESS

1. DISCOVER A BUSINESS WHICH INTEREST YOU.

• WHICH YOU KNOW 
• FAST GROWING AND PROFITABLE
• DEMANDING PRODUCT OR SERVICE.

2. WHAT IS YOUR TARGET/GOAL?

• NARROW YOUR CHOICE 
• ONGOING BUSINESS
• GOOD TURNOVER

3. MARKET ANALYSIS

• FULFILL NEEDS OF USERS/CONSUMERS
• LOOK AT POSITIVE COMPETITION
• PROFIT MAKING

4. VALUATE THE BUSINESS

• TALK TO THE CURRENT OWNER/AGENT.
• METHODS ON PROFIT MAKING.
• ASK FOR RELEVANT FINANCIAL RECORD.
• HOW IS THE TURNOVER.

5. WORTH BUYING

• DETERMINE  FAIR PRICE.
• VALUE ANALYSIS TO DETECT RISKS AND RETURN.
• CHECK UTILITIES BILS, RENT/SALE
• CHECK TANGIBLE ASSETS (example ; equipment & vehicles)
• CHECK INTANGIBLE ASSETS (example : workers,data, customer & balance sheet)