Are you ready to buy or sell a business?
If you are a business owner who is hoping to retire, or a new entrepreneur looking to buy an existing business, there are a lot of questions that you need to answer before making any decisions. Watch this webinar on Buying or Selling your Business to help today! Produced by SCORE Maine in conjunction with the Lewiston Auburn Metro Chamber of Commerce.
Are you thinking about buying a business?
It can be a great idea to buy a business where many of the growing pains have been worked out, if you do your homework. Buying a business is a very complex decision that requires a detailed understanding and analysis of physical properties, financial statements, and the relationships between the business and its customers. Buying any business is hardly set-it-and-forget-it, and will take time to understand the ins and outs of what makes that business prosperous.
Is selling your business the right move?
Timing is one of the most critically important parts of maximizing the value of your business, and making sure the business thrives after you have sold. There's no way for certain to know when it's the perfect time to sell your business, but there are indicators of when you shouldn't sell. Make sure you do your due diligence in making sure your books are in order, your buyer is the right person, and that you are sure that you want to sell. Surprisingly, one of the hardest parts of selling your business is letting go of work that you might love doing!