You have assets that you can sell, but I’m here to tell you that you aren’t selling or buying “hard assets”. Heck, you can buy equipment anywhere, anytime. You’re really selling or buying “soft assets”; your ability to build a team, sell, market, satisfy, create relationships, forge loyalties, make a profit and grow the business.
Your dream is to own a health food store and you are looking into how to make that happen. Two quick ways to get information is use the Internet to see what kind of stores are for sale. Also you would be wise to speak with several Business brokers in thailand to see what they have available and the current pricing. Franchises are also available in this industry. You can check them out online and contact them direct for more information.
Keep Business brokers online in mind that the agents are also doing this to make money. They have varying charge formats. Some will ask for a fee to embark on finding a buyer and seller and a percentage commission while others ask for a flat fee.
There are so many franchise options out there, it is often difficult to know where to turn for a good one. There are three things to consider when deciding.
Once you figure out your particular area of interest, think about the size of the business that you want to buy, the location of prospective sellers etc. Know your financial resources so that you don’t waste time looking at businesses that are beyond your reach, even if you have always fantasized about being a ship-builder.
Achieve the highest price through Buyer competition. Since this can be tricky, you are wise to let your broker, as a third party, create a competitive situation with buyers, to position you for the best transaction value.
Contract & Closing – Following a successful due diligence period in which all of your concerns have been addressed, a contract will be drawn up between yourself and the seller of the business. Typically this is done between your attorney and that of the seller. (Again, Vested has relationships with many attorneys if you need a referral). If the contract meets all contingencies you have set forth, it can be signed and a closing date set. At closing, the business will officially change hands and you will have completed the buying process. Keep in mind that our brokers are here for you every step of the way to ensure that you are making informed decisions.
And you’re going to want to put a team together, and that includes an intermediary, a transaction attorney and your accountant. You want to get your family on board, and you want to plan this out.