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BUYING A BUSINESS
The 4 People You Need on Your Team Before Buying a Business
Buying a business is a team sport. Here’s the exact support system I built to get real deals done.
5 min read2 days ago
Who You Need to Successfully Buy A Business
Taken from personal experience. They are literally puzzle pieces — They all require a ton of work and networking. But once you have them, you will indeed feel like you can actually pull this off.
There are only really 4 things you need to successfully acquire a business (minus your background, experience, goals, ideas, or character).
- Business Broker: A trusted, solid, honest business broker (that you like) with whom you can form a close relationship. Usually, the best BBs service local areas, and if you’re looking for a local/physical business, you will need to find one like this.
- Banker/SBA Lending Connector/Source: Someone who is connected to bank, public, and private debt-financing solutions. This will be your contact to find you a good deal on a loan to buy the business.
- PE or Capital Injection Partner: Most deals require you to put cash down; a PE partner will invest this amount (ideally, if they like the deal), so you don’t…
