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July 2018 Newsletter


6 Things to Consider When Searching for a Business

In addition to revenue and cash flow, here are some important things to consider.

  1. Where do you want to live? For example we focus on New Hampshire, which is one of the smaller states, but has a great variety of environments from oceans to mountains to cities and small towns to very rural areas.
  2. What qualifications are needed to run the business? Is a professional license or certification required?  Some licenses may be easily obtained or transferred while others may take a great deal of time and investment.
  3. What do you envision yourself doing every day? Some businesses “tie you to the store”; some require “road time”; some have a lot of personal customer interaction; for some all contact is over the phone or by email.
  4. Do you want to be involved in the day-to-day operation or will you require a manager or key employee(s) to handle the day-to-day with your oversight?
  5. What does the transition process look like to you? Will you want the seller to provide a couple of weeks, months or a year of assistance?
  6. Are you ambitious and looking for something you can grow and expand dramatically or are you looking for an opportunity that is well established that you can step in and run as is?

These are just a sampling of items to consider. Based on the business and your individual circumstances, there will be others. Some research early in your search can save time and money later on. There are plenty of resources available to assist. If you have questions, feel free to drop us a note or give us a call.

Click here to read the July newsletter.

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