Businesses to buy Checklist

[Andy777E]

All,

Can you please help with legitimate sources to buy profitable businesses?
How do we identify that it's legit? Is there a checklist/process?

How do we do our due diligence? Not looking for shortcuts.
Appreciate guidance and help!

 

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[Andy777E]

Thank you very much!

 

[Parks]

As for a source finding what is for sale, one is bizbuysell.com

 

[Guest-5ty5s4]

All,

Can you please help with legitimate sources to buy profitable businesses?
How do we identify that it's legit? Is there a checklist/process?

How do we do our due diligence? Not looking for shortcuts.
Appreciate guidance and help!

Most businesses are bought directly and off market.

Today, my grandfather’s company is pretty large and successful, but when he bought into it, it was basically one guy working out of a small garage.

He worked there as the guy’s only employee for awhile, then another guy joined, and they became a three person partnership. One guy wanted out so he bought his shares, but the last guy wanted too much.

They had a tough year, and that’s when my grandpa drove to the guy’s house and offered once again to buy him out. The guy agreed, with much better terms because he just wanted out. The biz was not very impressive at this point.

After that he spent 40 years (closer to 50 today actually) working on it and growing it. It’s probably returned in the thousands of percents.

He has always been a worker first - doing manual labor, working in the office, driving to worksites, meeting customers, doing trade shows, meeting bankers, everything.

In the 80’s he even hired a full time programmer and got into software.

His favorite outfit to wear to the office is overalls with a white T-shirt underneath and a company baseball cap.

 

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[Kid]

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