Because buying a business is a process.
“I want to buy a business, from a retiring owner, that has a strong management team, a 6-figure cashflow, a double-digit profit margin, and a reoccurring revenue stream. Oh yea, and I want to find it within 90 days.”
I hear this all the time from prospective buyers.
This is always my response…
“Guess What? You and thousands other buyers are looking for the same company.”
I am not saying that these opportunities do not exist, however, hey are uncommon. Spending time and resources searching for this “unicorn” may not be the best option.
In fact, the price will surely be inflated by the bidding wars that result in an opportunity like this!
According to industry statistics, nine out of ten prospective business buyers never complete a transaction. Why?
The buying process is long and involved, with many steps. One of the first and most important steps is to set realistic expectations for the business you will buy.
Read this article, before you actively start your search. The author provides invaluable steps to assist buyers in successfully completing the buying process.
The Vant Group is here to help guide you through the steps of buying or selling a business.