Considering buying a business? Whether it's your first venture or you’re trying to expand your business, it can be a game-changer. Just ask Brian Shields, an Acquisition Entrepreneur who knows what it takes to successfully buy a business. “Try to look at at least a hundred deals to help dial yourself in so you know what kind of risk you're willing to take, what kind of business plan you really feel comfortable with, what kind of industries you feel like make sense,” Brian says, “because once you get those under your belt, then you'll feel a little bit more sophisticated when the time really comes.”
We’ll dive into the essentials: from why you should consider buying a business to breaking down all the thorough due diligence and financing options so you can find the right business that works for you!
In this episode you’ll hear:
(00:35) How Brian bought his first business
(2:42) Why buying a business could be right for you
(5:06) Research and analysis (aka due diligence) that needs to get done before you buy a business
(6:39) Where you can find businesses to buy
(8:01) Brian breaks down what the due diligence process looks like by using a coffee shop as an example
(11:00) Three ways you can pay for the business you want to buy
(13:50) Andrea and Brian go over three points you should focus on when you’re trying to find a business to buy
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