Buying an Existing Small Business

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Buying an existing small business can be a great way to own a business, and empirical data is available as to the profit margins, clientele and performance. Consider purchasing an existing business instead of starting from scratch with advice from a certified public accountant in this free video on starting a new business.

Part of the Video Series: New Business Tips
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Video Transcript

There are lot of advantages to buying a business. As opposed to start up or you know, just ground floor going in. The financial information for an existing business is readily available. There's less guesstimating. And with solid data, you know how much to offer for the business. You know how much to expect it to perform. All other things being equal. It's easier to project your proformas. And hand that information over. And your bank application to the SBA and to other agencies that are going to require that info. Another nice thing about acquiring existing businesses, is you can find empirical data. For example, you can go into the community. And ask the opinion of that business. Ask the competitors, what their perception of that business is. So value can be established by more than just the intrinsic dollar value placed on it.

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