Buying an existing business can be an exciting path to entrepreneurship, offering a head start compared to building something from scratch. However, the process is often shrouded in misconceptions that can derail even the most promising deal. As trusted business brokers at KReate, we believe in arming our clients with the truth. Here are the top five myths about buying a business, and the reality you need to know before you take the plunge. Myth 1: The Business is Only Worth

In This Issue: The Different Buyers You May Encounter, The Main Reasons Why The Sale of Your Business Can Fall Through, Help Buyers to Understand How You Excel, Four Questions To Ask Yourself Before Purchasing a Business

In This Issue: The Top 3 Reasons Why Deals Fall Through, How Can You Identify a Serious Buyer?, How Leases Factor Into Business Sales, 5 Ways That Sellers Can Focus On The Positives

Are you ready to cash in on all the hard work you’ve put into building your business? Selling a business is a major decision, and it’s important to make sure you get the most out of it. That’s why working with a business broker can be a smart move.

As a business owner, you may have poured your heart and soul into building your company from the ground up. Whether it’s a small family business or a large corporation, at some point, you may consider selling your business. However, selling a business is not as simple as putting a “For Sale” sign on the front door.

1. Not having organized financial records. Most if not all buyers will request to review the last three years profit and loss statements/balance sheets and tax returns – at a minimum. In addition, if the buyer is looking for bank financing, the bank will also request the same information.