Sort Yourself Out First

Chilman Waraweena

Whether seeking a large, small or medium enterprise, it pays to determine your criteria first.

 

Ask yourself these questions:

  1. What is your maximum price range beyond which you are not prepared to go, regardless of how good it may be. Consider your cash/assets/buying capacity. Seek advice here
  2. What don’t you want in a business.
  3. What aspects must you have in a business.
  4. What aspects would you like to have (but not absolutely necessary)?
  5. What geographical locations.
  6. What industry eg. wholesale, retail, service based, manufacturing, import/export, professional practice, franchise.
  7. Are you intending to work in the business or seeking a managed business?
  8. What skills/background/qualifications do you have?
  9. What are examples of businesses that have appeal?
  10. Do you have a trusted accountant/advisor who can help appraise and add value in the purchase in a constructive way?