How to find a Professional Advisor that is right for you? Written by Jim Brown
How to find a Professional Advisor that is right for you? The right professional advisor can help you find business that you are looking for. Many buyers when searching for a business for sale turn to their accountant and attorney for advice. Although your accountant or attorney may have experience dealing with various types of business, there are not professionals in helping you find a business for sale. You should consult your accountant and attorney before purchase, but don't rely on them to find you a business. Ask them to refer you to a business broker as you will need one for following reasons: A broker will ask you lots of questions and know exactly what you're looking for. He or she may even be able to help you decide what kind of business might be best for you to purchase, given your resources, abilities, and interests. A business broker matches buyers and sellers. A broker helps to facilitate negotiating process. Since buying a business is at least as emotionally charged as buying a home, you will benefit greatly from a third party who can handle all aspects of transaction. A broker can speak more candidly to each party involved in transaction than they could manage on their own. A broker helps to untangle any red tape. An experienced broker will know most efficient way to acquire all necessary permits and licenses and will know how to locate financing and a reputable escrow company. This helps to eliminate many potential risks to you. Finding a good business broker is not an easy task. There are many people who call themselves brokers, but they are in fact real estate sales people who sell real estate as well as sell businesses in addition to their real estate activities. If you want specialist help, it is always best to look for a specialist business broker. Many are listed in Yellow Pages and others advertise businesses for sale in newspapers and on Internet. The key is to look for a business broker who has listed and sold businesses in industry or industries that you are interested in. You need to look for following in your search for a business broker that is right for you: Experience - The broker must be experienced with at least two or three year's full-time work behind him in industry.
| | How do you choose the right franchise from the start?Written by Jim Brown
How do you choose right franchise from start?Once you have decided a franchise is right route for you, how do you choose right one? To choose franchise that is right for you and that will fulfill your business dreams, you must know yourself, your skills, and your dreams and aspirations. You must begin process by analyzing yourself. You can start by investigating into various industries that interest you. Once you have narrowed down choices to a few industries, study your geographical area and determine if there is a market for that type of business. If so, follow a research plan and begin contacting franchise companies that you believe have potential in your area. Any reputable franchisor will send you extensive information about their business at no cost. After you receive this information, which is usually disclosed in offering circular (also known as Uniform Franchise Circular Offering or UFOC), you have to read it carefully. Read between lines and do your research. You can go to library, look online as well as in professional journals, trade magazines, reference books, government publications, and annual public corporation reports. Check with Federal Trade Commission (FTC), state franchise authority, and local Better Business Bureau to see if there are any problems with company. You can also contact local chambers of commerce or business development organizations and see if they can supply information pertinent to you research. Try to determine if this company is doing well in terms of its financial health, management, reputation, and growth prospects.
|