After 15+ years in corporate finance management, I’m eager to leverage my expertise to scale a business as my own. With middle management layoffs looming, I’m exploring purchasing an existing business. I’d love to hear from experienced entrepreneurs and business owners! I have no entrepreneurial experience.
Key Questions: 1. What are the essential factors to consider when buying a business? 2. What’s a reasonable budget for acquiring an existing business? I know it’s based on my budget but not sure how to determine the budget for a business. 3. Should I work with a business broker? Who typically pays the broker fees? Is it like residential transaction? 4. How can I identify potential businesses for sale? Are there any good sites? Anyway to identify private businesses? I don’t have any entrepreneurial network 5. What else should I consider?
Ideal Scenario: I’d love to find a local, established business with an owner looking to retire and/or business that I can run on the side while still keeping my corporate job.
If you have any advice, insights, or potential leads, please share!
Thanks in advance for your guidance and support!
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