BUYING AN ONGOING BUSINESS FOR SALE-EXAMPLE HAIR SALON
by jimmyturano
 BUYING AN ONGOING BUSINESS FOR SALE
Aug 03, 2017 | 1018 views | 1 1 comments | 89 89 recommendations | email to a friend | print | permalink

You want to own your own Business. That is very good. Now find the best opportunity for you by following the most simple guidelines below:

1)  Price-usually 17x’s weekly gross in asking price

2)  Equipment being left with the sale

3)  Rent-key to succeeding in your business

4)  Taxes-you may have to pay a portion of taxes once a year, or monthly

5)  Other expenses you need to know about-electric,heat,water,insurance

6)  Location-important but if owner is doing this business for 12 years or more that is a good indication. Be open minded to other locations other than where you reside in.

7)  Minimum the weekly gross income should be is $3,500 dollars or more.

8)  Negotiating the price- Only if the rent is fair, doable, it is best to make an all cash offer for example, at 13 x’s the weekly gross. You want a fair price, fair rent, and low expenses.

9)  Whether you buy the business yourself or you partner up with someone, after you pay rent, taxes, electric, water , hot water bill this is the minimum you should net for yourself and a partner, about $1400-$1500 per week. Otherwise double that if you go it alone.  You must take the time, and have a game plan when looking to purchase an ongoing business.

10)        Lease-try to always get a new lease if possible. Otherwise have your attorney go over the current lease with you to explain everything.

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jimmyturano
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August 03, 2017
IF YOU DO PARTNER WITH SOMEONE TO BUY A BUSINESS, REMEMBER YOU WANT TO MAKE A MINIMUM OF $1400-$1500 PER WEEK EACH OR ABOUT $73,000 TO $75,000 YEARLY EACH.