What is the first step in buying an already established business
Once I have found the business I wish to buy what is the next step other than sourcing finance ? Also as I have a bad credit no ccj's etc just defaulted payments I am going to need to try and source 100% of the capital but unsure of how to go about this as I have no assets to use as security ?
1 Answer
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Hi Christopher,
My first step would be to take a good, close look at the accounts and to start asking the owner questions, as well as existing or ex-customers.
With regard to financing the venture, my gut feeling is that you are going to struggle, as you are not able to risk any money of your own. I'd recommend you make an appointment to see someone at your local enterprise agency or Business Link (or national equivalent) and discuss your idea with them.
Lee
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