Purchasing a business can be a highly profitable way to jump into the world of entrepreneurship. When you buy a business, your start-up costs are non-existent, your team is already assembled, your business has existing customers and vendor relationships, and processes are already in place. In other words, you have a huge head start towards success. Purchasing an existing business, however, does not guarantee success.
There’s a lot you need to know about a business before you buy. Below are four key questions to ask the current owner before making any business purchase.
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