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082 968 2075

 

Buying a Business
 
Finding reliable information to assist you in choosing the right business for your needs can be difficult... 
 
Cape Business Bureau (CBB), can help you plot a successful course through the process of buying a business in the Western Cape / Cape Town area, which includes:
  • How to choose a suitable business
  • How to value the business you are looking at, with comparisons of other similar businesses previously sold
  • How to minimize the risks of buying a business
Businesses are bought for various reasons:
  • Expansion of an existing operation
  • To fulfill a dream, be your own boss, be in charge of your own income
  • To provide a secure environment for dependants
  • To fulfill a market need
  • An existing concern is normally more secure than starting afresh.
Another alternative is to purchase a franchise turnkey project where, under the guidance of the selected franchisor, a new site is secured and a new activity is opened.
There is a range of franchises to fit various financial requirements.
 
Steps to owning your own business:
  1. Complete and return our Non Disclosure Agreement (NDA). This will enable CBB to provide information on businesses you are interested in.
  2. Contact CBB discuss opportunities - if in the area, you are also welcome to pop to discuss your intentions.
  3. Investigate a few opportunities once you have received the profiles.
  4. Visit the premises (if possible) to get a feel of the business.
  5. Choose which business you want to pursue.
  6. Study financials.
  7. Meet with the owner.
  8. Negotiations will take place.
  9. Make an offer subject to suspensive conditions e.g. lease and due diligence.
  10. Once the offer is accepted, pay a deposit which is held in trust.
  11. Fulfill suspensive conditions and other matters as per checklist.
  12. Pay balance of purchase price and then take over on the effective date.

All CBB Details are on the Contact Us page.

 

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