Do I Need A Solicitor And An Accountant To Buy A Business?
Buying or selling a business can be a complicated venture. While some businesses are sold without the help of accountants and solicitors, we strongly recommend that both the buyer and seller engage professionals.
I'm A Resident Of Another Country, Can You Help?
While the immigration process is quite complex and we certainly recommend a legal consultant that specialises in obtaining visas, several of Transworld’s agents have done numerous transactions in this regard and can provide enough help to move you along the process.
Where Can I Go To Look At What Businesses Are Available To Buy?
Our website, tworldcanada.com has a search page where you can look at over 4000 businesses worldwide.
What Will The Process Of Buying A Business Cost Me?
Transworld is generally paid by the seller not the buyer. However, other costs do come into play. Legal and accounting fees are generally required and additional startup costs may also come into play.
Will The Current Owners Train Me To Run The Company?
Depending on the complexities of the business, the former owner will offer varying levels of training. On most small businesses, the owner will offer training for two to four weeks at no cost to the new owner.
How Do I Know That The Profit Figures That The Sellers Claim Are True?
As part of the acquisition process, you will have to go through “due diligence.” During this period the seller is required to present documents to verify his profit numbers.
Will I Have To Come Up With The Entire Purchase Price?
No, while 100% of the purchase price is sometimes required, sellers will frequently provide owner financing to some extent.
How Much Money Will It Take To Buy A Small Business?
Businesses vary in price a great deal, however, it would be unlikely that one could buy a business with much less of a down payment than $50,000.
Should you have any additional frequently asked questions about buying a company or business brokers, please don’t hesitate to contact Transworld Business Advisors. (Click Here)