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Finding reliable information to assist you in choosing the right business for your needs can be difficult.
Cape Business Bureau can help you plot a successful course through the process of buying a business which will include:
1. how to choose a suitable business;
2. how to value the business you are looking at, with comparisons of other similar businesses previously sold;
3. how to minimize the risks in buying a business.
Businesses are bought for various reasons:
• expansion of an existing operation
• to fulfill a dream/ be your own boss/ be in charge of your own income
• to provide a secure environment for dependants
• to supply a market need
• a going concern is normally more secure than starting afresh.
Steps to owning your own business:
1. Complete all details, sign and return the Confidentiality Undertaking (click on the Confidentiality Undertaking link below). This will enable CBB to provide information on businesses you are interested in;
2. have a meeting with a consultant;
3. discuss opportunities (click on the portfolio of businesses for sale link below);
4. investigate a few opportunities;
5. visit the premises (if possible) to get a feel of the business;
6. choose which business you want to pursue;
7. study financials;
8. meet with owner;
9. negotiations will take place;
10. make an Offer subject to suspensive conditions e.g. lease and due diligence;
11. once the Offer accepted, pay a deposit which is held in Trust;
12. fulfill suspensive conditions and other matters as per checklist;
13. pay balance of purchase price and then take over on the Effective Date.
Click here to view our Portfolio of businesses for sale>>
Click here to download and complete, sign and return the 1 page Non-Disclosure / Confidentiality Undertaking Form
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