A great deal I got a call from someone who was in the process of purchasing a business from an Uncle. The Uncle wants a million dollars for the business which includes real estate, and is willing to sell to his niece on a contract for deed. The niece would pay for the business over time with the proceeds of the business. The niece, who currently works in the business, would eventually be the owner, without having to get approved for a bank loan or provide cash for a deposit. Seems like a win-win, right?
Advantages of Buying an Established Business If you are trying to decide between starting your own or buying an existing business this blog is a must-read. Below are a few of the many reasons buying an existing business may be the better decision, along with a couple of tips that potential buyers should keep in mind before making a purchase.
~$10 million available in 2019; with an additional $10 million available in 2021~