The Agency which metamorphosed from the highly successful Delta State Micro Credit Programme is mandated to facilitate, encourage and support the extension of financial services to micro, small and medium enterprises in the state.
Mon-Fri: 08:AM - 4:PM
Office Call 0803 397 3772
3, Michael Fidelis Nwaefulu Street, GRA, Behind DSS Office, Asaba.
Buying an existing business is exactly what it sounds like. The buyer typically takes over full ownership of the business. The largest advantage is having an existing blueprint that can include important factors like an established customer base, defined operating expenses, and fully trained employees. Regardless of business type, almost any kind of business could be bought or sold. When you buy an existing business, you typically get complete control over its direction. However, with no set vision, infrastructure, or external guidance, your business could struggle as you figure out the best way to run things.
Consider 3 factors before franchising or buying a business
Though the business models differ, there are three common steps to take that will help you determine whether you should franchise or buy a business.
Quantify your investment.
Consider your talent and life.
Review the full landscape.
Pick the right franchise or existing business for you
Once you know whether you want to franchise or buy a business, you’ll need to evaluate each specific opportunity. In short, it boils down to this: do your due diligence. Your research should help you understand the business from both a financial standpoint and in the overall landscape. If you’re interested in franchising, you should explore the following:
Get ready to buy your franchise or business
Once you’ve found a franchise or business to buy, it’s important to conduct a thorough, objective investigation. At this stage, you’ll probably want professional help. Consider hiring an attorney and an accountant. The tax rules surrounding franchises in particular are often complex. A specialist in franchise law can assist you with evaluating the franchise package and tax considerations. An accountant can help you determine the full costs of purchasing and operating the business, and even help estimate potential profit.
An attorney and an accountant together can help you create and evaluate important documents. Typically that includes: