Most prospective business buyers really don’t know from the outset the exact type of business they want to buy. Experienced M & A Advisors and intermediaries know that many business buyers end up with what is sometimes a far cry from what first captured their imagination.
Take, for example, the old story of the buyer who saw (and probably smelled) a doughnut shop in his business dreams. This was the business he was sure he wanted to own and operate – until he discovered that someone, most likely him, had to get up at 3 a.m. to make the day’s baked goods. It is important that, before making the dream a reality, those prospective buyers understand just what the business is and how it fits their personalities – what they want to do and what they don’t want to do! Obviously, if getting a good night’s sleep is important, owning a doughnut shop is not a good idea.
In searching for the right business, here are some of the crucial questions a prospective business buyer might ask himself or herself:
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Does the business look exciting and interesting to me?
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Do I feel that I can improve the business?
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Would the business offer me pride of ownership?
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Would I feel comfortable operating the business?
Professional M & A Advisors can offer many different businesses for a prospective buyer to consider. Prospective business buyers can discuss their needs and wishes with a professional M & A Advisor who can then show them opportunities that they might never discover on their own.