The benefits of buying a business are self-evident. The business you buy will have a trading history, will have customers, and will have (probably) staff who know how the business runs.
By looking through the books you will be able to determine turnover and profit percentages, and perhaps find some ways to save money, or make more money.
Businesses for sale in Nigeria will be listed on websites such as compexafrica.com, in local magazines, and in local directories. By using the services of a business broker or business transfer agent, you will also be informed about businesses coming onto the market, and businesses that are for sale, but which are not publicized.
The following steps should guide you to a successful acquisition
Research about the business – When an offer is giving to you to buy a business, it is important that you take your time to research properly about the business.
Hire Professional Advisers: Buying a business in Nigeria is likely to be the biggest investment you ever make, so it goes without saying that the legal and financial aspects of buying a business are hugely important. Employ the right people
Valuate the business: If you have been made an offer to buy a business by the owner you may want to be a little more patient on deciding if the price is right. This is different from you making an offer as you may have already decided on the price before approaching the owner of the business. Compex Africa has launched a valuation tool that enables you to value a business
For more expert advice on how to buy a business in Nigeria, contact Compex Africa today.