To the uninformed and inexperienced, the process of buying a business often seems fairly straight forward and uncomplicated. It’s not, and while those with little or no experience in buying a business may visualize the process as “a walk in the park,” it is all too often more akin to navigating a “minefield,” and attempting to navigate a minefield without a competent guide (one who knows where the mines are likely located) is very risky business. When crossing a minefield, it’s seldom the mines you see that hurt you, it’s the ones that you don’t see. In the acquisition of a business, problems / surprises are like mines in a minefield, and the typical buyer has little or no idea how to identify them, let alone successfully deal with them. A well-experienced buyer’s broker can successfully identify the vast majority of potential problems and effectively address them before the buyer wastes serious amounts of both money and time in the pursuit of a business that doesn’t make economic sense, or before those problems jeopardize the success of the acquisition.
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