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    investigate before buying existing business
    Hi All,
    I'm new into this. I'm interested to buy existing business. I read a lot of articles about it and what I observed, that is the buyer's responsibility to investigate what you going into, and make sure everything is right.
    Now I found a business that I like to get into, because the owner is flexible and willing to work it out.

    So how do I investigate about every little things like Lease Contract, Licensing, Deed Holder, Lean, Unpaid balance on Tax, Utility, Note, Loan, any Service, Public Record, open Law Suit, Filing Tax, IRS record, Income Tax, Revenue, Cash flow, etc.?

    Is there any type of business or institution do all the investigation?

    If so, how do I search for local one, I live in Michigan-Detroit area?

    I appreciate any help or advice. Thanks


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    The best thing would be to get the advice of an expert from Piterion and am sure they will help you sail easily with the decision whether to buy or let go the investment in any existing business.


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    First of all I appreciate your choice to buy an existing business because in an existing business you can get more benefits than in running a new business and minimum chance of loss in business. It's not a duty of business owner to investigate the existing business but, it's important thing to investigate it. In you situation I suggest that you should hire a business broker who can investigate it because business broker knows the market better than anyone else. In this way a business broker is mainly responsible for investigation and my advice to you is to read more articles about "how a business broker gives you more benefits than others?"


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    Quote Originally Posted by Businik View Post
    Hi All,
    I'm new into this. I'm interested to buy existing business. I read a lot of articles about it and what I observed, that is the buyer's responsibility to investigate what you going into, and make sure everything is right.
    Now I found a business that I like to get into, because the owner is flexible and willing to work it out.

    So how do I investigate about every little things like Lease Contract, Licensing, Deed Holder, Lean, Unpaid balance on Tax, Utility, Note, Loan, any Service, Public Record, open Law Suit, Filing Tax, IRS record, Income Tax, Revenue, Cash flow, etc.?

    Is there any type of business or institution do all the investigation?

    If so, how do I search for local one, I live in Michigan-Detroit area?

    I appreciate any help or advice. Thanks
    Hello, The services you requested are provided by my company, We mainly focus on strategic global advisory but we also have risk analysis division (we call ICCU or 'intensive company care unit') we analyze many factors and help our clients get an understanding of what type of affect their decisions may have on the company. Things like entering new ventures, acquiring companies or maybe selling out a division are all analyzed. Although there are a few things you listed we do not cover, I believe we can get you a good idea as to the condition of the company you are trying to purchase. Please feel free to send a message.

    Best Regard,
    Jaian. C


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    Hi businik,
    It is nice you have found a business of your choice, but in terms of its originality or genuineness, you really need to follow this rules:
    1. Don't exchange money: What i mean is money shouldn't be considered as a priority.
    2. Who owns the business
    3. Can the business be traced, either to a country embassy and a resident of the country.
    4. is there any traceable income
    5. Do they belong to any of the verifying institutions known globally. you can use DUN & BRAD
    6. What are the reasons the business owner is selling it
    I hope, i have been helpful.


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    The best thing is get the counsel of a specialist from Piterion and am certain they will enable you to cruise effectively with the choice whether to purchase or let go the interest in any current business.


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    The best thing is get the advice of a pro from Piterion and am sure they will empower you to journey successfully with the decision whether to buy or let go the enthusiasm for any present business.


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    1st you write all steps about your business startup .....
    and DO STEP by STEP


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    One must do all the necessary research before buying an existing business. Get to know about the proper condition of the business. All the legal terms and conditions should be clear. One must be clear and sure while buying an existing business. A year ago, my uncle was in a similar situation, he also wanted to buy an existing business but was a little bit confused, at this point of time he consulted Prestige Capital Corporation for this decision. Such financial consultant has always helped business.


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    Area.

    Furniture, apparatuses and hardware.

    Stock.

    Prepared workers.

    Built up client base.

    Existing money flow(sufficient to pay costs and bring home the bacon)

    The business itself (future market for item/administration)

    Rivalry.


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