: This is the most common way to fund a purchase. Banks can lend up to $5 million with as little as 10% down .
: Choose two or three industries that match your existing skills or network. Service businesses, light manufacturing, and home services are often recommended for first-timers because their financials are easier to read. how to buy a small business
Build a "deal pipeline" from multiple sources simultaneously: : This is the most common way to fund a purchase
: 3 years of tax returns, P&L statements, and bank statements to reconcile revenue. Look for documented processes and a strong second-in-command
: If the owner is the only one who knows how to run daily operations, you are buying a "job," not a business. Look for documented processes and a strong second-in-command. Recommended Reading Buying a Business: 7 Documents to Request | CO