Buy a Business
Interested in Buying – We have inventory!
Would you like to own a Springfield area business? While we have an extensive inventory of businesses in all markets, our goal is to help you find the right fit for your interests, experiences, and finances.
Consider an existing, cash-flowing business
If you buy a business that is already operating, you can bypass the challenges of a start-up and start receiving cash flow right away. There are many other reasons to buy an existing business.
Your resources are already in place. Although you are usually free to make changes, an existing business often has relationships and accounts with reliable suppliers in Ohio. You can skip the trial and error and use the services that were already working well for the previous owner.
Your employees and customers already have relationships. A solid customer base and a staff that knows and anticipates their needs is a perfect environment for a new business owner.
Permits and licenses are already established. When you buy a business that is already operating, you don’t have to worry about getting approval on required permits and licenses, as many licenses can simply be transferred.
There is more to finding the right business than operational efficiency and cash flow. If the business is not well-suited to your needs, a smooth-running system can quickly fall apart.
Your initial search should begin by asking questions to identify what types of businesses you would enjoy operating along with the skills and experience you posses.
How to Evaluate the Feasibility of a Springfield Business.
Once you have narrowed the choices to businesses that are suitable for your interests and experience, it is time to evaluate the business itself, including why the owner is selling. They could be selling for retirement, relocation, or to pursue other interests. However, it could also be a decline in demand, an increase in competition, or the fact that most of the business’ equipment will need to be replaced in the next year. We can help you understand all of the details before moving forward.
How much working capital will you need?
Some industries will require much more than the purchase price to get started. We can help you to understand how much capital is necessary for inventory, overhead, and insuring accounts receivable. We will also help learn how long it takes customers to pay invoices and what payment terms their suppliers offer. These questions can offer insight into cash flow that you might not see by looking at a balance sheet.
The many facets of evaluating a business for purchase can seem overwhelming, but they are not impossible. Sunbelt Business Advisors of Southwest Ohio can offer the experience and support that you need for a successful purchase.
How do acquisitions get financed?
Are you in the early stages of thinking about buying a business and would like to talk about the possibilities and the process? We have several no-cost ways to begin the discussion: