Whether it’s your first time buying a business in Lethbridge or you’re a seasoned pro, we’ll match you with the right business to help you achieve your goals.
Thinking about buying a business?
Buying a business takes hard work and careful planning. You’ll need to take a close look at your business goals, your tolerance for risk, and some very specific details about the company you’re considering acquiring.
At Larkspur Business Brokers, we understand what’s involved in buying a business, and we can help you make the right purchase for you—whether it’s your first acquisition or your tenth.
With experience helping buyers like you make smart acquisition choices, Clara Piedalue will walk you through the entire process step-by- step, and provide the expertise and support you need to get the results you deserve.
Contact us today for a confidential consultation. We’ll explore your options and determine whether or not it makes sense for you to buy now.
Subscribe using the form at the bottom of this page and be added to our Exclusive Buyer’s Club. Be the first to know about new businesses for sale in the Lethbridge area.
Advantages that come with buying a business
- “Turn-key” operations. Why struggle to start something when you can buy a business that’s already established? The business you’re thinking about buying likely already has a good customer base, a team of employees in place, and all the equipment you’d need to take over and start growing.
- “Off-the-shelf” capabilities. There’s no quicker way to get started doing business in Lethbridge than to buy an existing company. Buying can help you shorten the long process of getting operations in the black (profit).
- Cash-flow. It can take a long time to get a new business off the ground. Research shows you might not even make it—over half of startups fail in the first five years. But with an established business, you’ll see money right away.
- Easier financing. Banks look more favorably on financing business acquisitions, because there are already assets that can be used to help secure a loan. You might even be able to negotiate a deal with the business seller to have them finance a portion of the purchase.
Things to watch out for when you buy a business
- Mismatched culture or goals. It’s often hard to take a business that has been built a certain way and try to “steer the ship” in a different direction. If you don’t believe in paying overtime, for example, but employees in your new business have come to depend on it, you’re asking for trouble from your employees.
- Issues with integrating. If you’re trying to fold your new business into one that already exists, you can expect operations headaches and hassles. Many a business has foundered because new owners couldn’t find a way to make things run smoothly.
- Overdependence on existing staff. People can leave—and often do—as a way of coping with change. If your new business is heavily dependent on certain managers, salespeople or other employees, watch out. You could quickly find yourself without them.
Tips for buying a business the right way
- Go with what you know. It’s easy to be seduced by a hot idea or a “can’t miss” business venture. First-timer or acquisition veteran—it still makes sense to consider whether you’re going to know what you’re doing with your new business. Trying to learn the ropes as you go can lead to disaster.
- Don’t become emotionally attached. Research, research, research. Do your due diligence, and look at your potential new business with an unemotional eye. Some businesses are riskier by their nature. Some will naturally have lower profit margins that can make it harder to succeed. Competition in some industries will be higher than in others. Don’t let emotion cloud your judgement; you’ll need to logically and rationally consider whether the business opportunity you’re considering makes sense.
Work with someone who’s been there before. A business broker can help you with many aspects of the business buying process. Helping you estimate the value of a business, coordinating interviews between buyers and sellers, guiding due diligence, and facilitating the sale in other ways… A business broker can do all this and more to help you make sure a new business is right for you.
Ready To Get Started?
Give us a call or send us a message and we’ll be happy to answer any questions you might have.