Advice needed for buying an existing business

[onlineo]

The best advise I've read here is "wait 6 months and offer half the money" - whatever you do don't over pay for the business.

 

You must also recognise that once you have the business the accounts will be very different to how they are now because you will have to make loan payments every month which may possibly take all your profits. Generally i'd be willing to pay no more than 3 to 5 years profit but businesses are often priced much higher than this especially through agents

Good luck!

 

I have no idea about the loan. I would say it would be very difficult but not impossible to get.

 

I would be willing to pay no more than 18months profit for a business but preferably 3 to 6 months profits. But everyone have there own risk reward profiles, and different sectors have different norms.