Obtain a copy of the business plan and go over every element with the owner for verification and clarification.
The current business plan does not necessarily have to stay in place when you buy a business, and you may wish to modify it to meet your own goals and objectives.
Be sure all taxes, licenses, permits, inspections and other local, state and federal requirements are up to date at the time of the sale.
This is another valid reason for hiring an attorney and an accountant for your business purchase.
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In case we need more time to master your paper, we may contact you regarding the deadline extension.
Buying an existing business and its business plan is a viable option for starting your own business, but careful and educated research into all operational reports and financial statements is essential.
When buying the business, the business plan should be included in the purchase price and is not an add-on expense under normal circumstances.
Hire an accountant as well to assist with the business purchase. Your lender will tell you what documents are necessary for the loan package.
Consider using a local bank that knows the local business environment and can offer ongoing, in-person customer service.