Buying a business: avoiding the ten main deal breakers
Buying a business: avoiding the ten main deal-breakersWe outline ten situations that most commonly cause deals to fail, and how to avoid them:
1. The buyer and/or the seller are not serious about the deal
This is not always easy to spot early on, although if you have retained a business broker to help you buy or sell, they will be highly attuned to the warning signs. Some so-called ³buyers² might actually not be aware of the long hours and hard work involved in taking on the running of a business, while ³sellers² might actually just be testing the market to see what kind of price they could get.
Alternatively, both buyers and sellers may start the sale process in good faith but lack the courage to go through to completion when it comes down to it.
To minimise the risks, buyers should look for sellers who:....
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