|
Buyers FAQ
Business Loans: Are they available?
Yes. Business loans are available.
back to top
Business Loans: Can I get one?
In most cases, if you have good credit and the business is financially healthy you can qualify.
back to top
How much money do I need?
If the business is a candidate for a business loan and you have a down payment of anywhere from 15% to 30% of the purchase price, that is all you need to come up with.
back to top
How much experience do I need?
One of the requirements of an SBA loan is that the business buyer has SOME experience in the field of the business they are buying. It does not have to be extensive but should be relatable to the industry the business operates in.
back to top
Can I be successful?
Working with a qualified Business Broker is worth more to you than just finding a business. A qualified Business Broker will have your best interests at heart and will not just be trying to sell you a business without a thought to how successful you will be in that business.
back to top
How do I find a business?
We are advocates of helping you find a business that you like and would feel comfortable managing. You, like every other prospective buyer, have a vision of being your own boss and calling your own shots. A business must fit your visions for you to be successful.
back to top
Who can help me in my decision to buy a business I like?
The MKL Team prides itself in helping business buyers find businesses that they can be successful in and help them apply for and receive Loans from SBA Lenders who are what is known as „Cash Flow‰ Lenders. SBA loan funds can be used to purchase a business in a number of different ways. Funds can be requested to purchase the entire business, only the assets of an existing business, or purchase the stock of a corporation. When a business is in the form of a partnership, one partner can request funds to buy out the other, as long as the surviving partner will own 100% of the company.
back to top
How many careers do people have in their lifetime?
No matter what business you look at, no matter how large they are, how long they have been in business, or how successful they are today, there was a day at the beginning of that business when the owner ran to the mailbox every day to see what checks arrived just so they could make payroll and pay their bills that week. It is said that people go through 2 to 3 different careers in their lifetime.
back to top
Why should I buy a business instead of just starting one?
A big advantage in buying an ongoing business is that you, as the new owner, have an immediate cash flow and an established customer base. You don't have to build a business; you simply take over an existing successful business with the present owners assistance.
back to top
What are my chance for success if I buy a business?
With adequate due diligence in the preliminary stages of the purchase of this business, the chances for success are excellent.
back to top
How do I help protect myself from failing in the business I buy?
Working with a qualified Business Broker along with other appropriate professionals such as legal and accounting ensures that you, the business buyer, have all the input you need to make the correct decisions. You must believe in the business you are buying and the business must be financially healthy if you are to succeed.
back to top
How do I make the decision to move forward if I find a business I like?
The decision to move forward is yours alone. Your professional advisors will not run the business nor will they be at risk if the business does not do well, however they will give you their opinions which sometimes will be worthwhile and sometimes not. After all, have they ever owned or operated a business like the one you are interested in? You must believe you will be successful... and if you believe it, you can do it.
back to top
Is it OK to question everything?
Absolutely! Don't take anything for granted. To question is to give you comfort in your quest to make the right decision.
back to top
Who can I trust?
The MKL Team is part of the largest network of Business Brokers in the United States. As such we pride ourselves in our professionalism and performance. We honor your confidence and work hard at finding a business that is right for you. We will not accept you as a client unless we feel strongly that we can help you achieve your goal of buying a business at the price you want.
back to top
What if I succeed?
You will control your own destiny. Let The MKL Team (TMT) help you get there!
Call: (855) 343-5544
back to top |
