Buy a Business

When looking to buy a business it is important to consider the alternatives before you. For example, you can start a business from scratch or buy an existing business.

The advantage of buying an existing business is that it will probably have a track record, credit history, sales revenues, reputation and existing business relationships.

In general, starting a business from scratch is riskier.

Once you have decided to buy a business it is important to define the type of business that you would prefer. For example, location, type of business, markets served, company's financial health/profitability and financial methods for the transaction.

A key point here is to consider the earnings or profit potential in future periods, not just historical accounting information.

When valuing a business, it is important to take professional advice from an adviser involved in buying and selling businesses. Accountancy firms do now always have this knowledge or expertise.

Confidence is important in all walks of life but even more so when buying a business. Consider whether you have the skills and expertise to run a business and where you will need support.

Buy a business through a reputable adviser and recognise the difference between a broker (middleman) and a professional adviser. A professional adviser will be able to help with negotiations, decisions, work with other advisers (such as lawyers) and offer well rounded advice.

Most of all, it is the desire to be your own boss, or grow an existing business, which will drive you on. This is what can set you apart……

When we chose Kingswood to sell our business we believed that their simple, easy to understand proposition to sell our business “a better way” was just what we wanted.This is exactly how it work out with professional support from beginning to end. And the fees were exactly as quoted!

I would use Paul Holohan and his team at Kingswood again without question.

Bob Hanks