If you would like to start a business but would rather not start from scratch, buying an existing business is the best option for you. While it may cost a little more upfront, there is far less risk involved.
For this week’s episode, Carl and Peter get into the details of the advantages of buying an existing business, franchising and things to consider when buying a business.
IN THIS EPISODE, YOU’LL FIND OUT…
- Why buy a business? (3:23)
- Objections when buying a business (4:21)
- Is franchising starting a business? (5:09)
- What business should you consider? (9:08)
- What are your prior considerations before looking for a business to buy (11:00)
- Vendor finance (18:52)
- Three negotiation points (20:23)
- How to open a conversation with the business owner (26:14)
- The integration phase (35:04)
- Final things to consider when buying a business (44:58)
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