Buy an existing business or franchise.

Existing employees when buying a business There are regulations that govern what happens to employees when someone new takes over a business. These apply to all employees when a business is transferred as a going concern, meaning employees automatically start working for the new owner under the same terms and conditions.

Whether a company was started with more enthusiasm than planning, was planned from an operational standpoint without the need to present a plan to investors, or just changed significantly in the course of its creation, there is often a need to create a business plan once a business is already operational.

One benefit of buying a business is that regardless of a company's past performance, an existing business will have a history from which you will be able to make certain decisions. Even if the company was not profitable in the past, you may have the skills and talents to turn it into a viable venture.

Page 1 of 29. Business Plan for an Established Business. This business plan consists of a narrative and several financial spreadsheets. The narrative template is the body of the business plan. It contains more than 150 questions divided into several sections.

Buying a business: How to purchase a small business Buying an existing business can be a successful route to becoming your own boss. Take a look at the steps involved in finding, valuing and buying a small business to decide if buying a business is the right direction for you.

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CHECKLIST: Questions to Ask When Buying an Existing Business GENERAL O Why is this business for sale? O What is the history of the business, including the background of founders and key management? O What is the outlook for this industry and this business? FINANCIAL O Are the company’s revenues rising or declining? If declining, what is needed to improve them?

If you know what to look for and how to buy a small business, buying an existing operation can be a great opportunity to step into the company without having to start from scratch. If you buy a turnkey operation, you can skip the startup phase entirely and begin operations as soon as the sale is complete; everything is already set up and ready to go.

There are many benefits of having a business plan in place for an existing company. With a business plan you can:. The Plan-As-You-Go Business Plan Buy From The Plan-As-You-Go Business Plan.

Commercial mortgages can be used to buy business premises, or as part of a funding package to buy an existing business. Lenders use the property you are buying as the security for the loan and will usually advance 70% of the value. Unlike residential mortgages, commercial mortgages do not have pre-set rates.

University Cycle Works retail bicycle shop business plan executive summary. University Cycle Works is bicycle specialty store, offering retail sales of new bicycles, parts and accessories, clothing, and maintenance and repair service.