One of the most important tips we can give you is for you to understand your own strengths and weaknesses, and for you to then have the capability to source the right people to advise and guide you through the purchasing process wherever necessary.
Use a good Business Broker. There are a multitude of places where you can find businesses for sale, however purchasing a business through a good business broker means that you are dealing with a specialist, someone who has a deeper understanding not only of the business they are offering, but also of the professional services you may need to employ to undertake a thorough analysis of the prospective business.
Understanding the steps required in a sales transaction can also help alleviate concerns. If you would like further information on this please see our information on the buying process
Unless you really know what you are doing, it is probably safer to pay more for a sound business with predictable outcomes, than to pay a bargain price for a business that does not have a good track record.
Use a good solicitor who specialises in business conveyancing to assess the contract, and a reputable Accountant or industry specialist to assist in conducting your "Due Diligence".
Please feel free to contact us for a free consultation to discuss your personal situation further.