How to Buy a Business in America

Buying an American business provides ownership and income.

Many Americans are searching for avenues that produce income. Buying an already established business or franchise provides a way to become a business owner and provide long-term income.

Franchise

If you enjoy eating or shopping at a national franchise, check into purchasing a local franchise. Start by talking to the owner of one or more franchises to find out the steps needed to purchase the franchise. Check the website. Follow up on the information found. Franchises can be expensive, but carry an almost guaranteed consumer base, and lots of help to get started and to run the business.

Buy Local

Talk to family and friends, and check the newspaper or online for local businesses that may be looking either to bring in a partner or to sell the business altogether. Talk to a local business you particularly like. Make sure that the business you wish to purchase is a viable business by asking to see their accounts, and talking to employees, suppliers and customers. If everything checks out, and you and the owner come to an equitable agreement, sign a letter of intent.

See a Lawyer

Before actually purchasing a business, talk to a lawyer. Be sure a lawyer draws up necessary documents, starting with the letter of intent, so everything is in writing and legal.

References

• Lincoln Financial Group: Buying a Business
• International Franchise Association: Franchise Opportunities
• American Business Brokers: Buying a Business--FAQs

Resources

• American Independent Business Alliance: Because Community Matters