In this week's episode of the Business Buying Strategies podcast, Jonathan's focus is on purchasing businesses off-market and avoiding common mistakes that new business buyers often make. Jonathan highlights six of the twelve most common mistakes, including the risks of using personal money, buying businesses you don't understand, overpaying, and quitting your job too soon. The episode also features Nick, who successfully bought a poultry business by leveraging creative financing and avoiding the usual pitfalls. Nick talks about strategies for financing acquisitions without personal money, the importance of buying larger businesses to avoid effectively purchasing a job, and the value of negotiating a fair price. In a conversation with podcast producer, Ed, Jonathan advises new dealmakers to look for off-market businesses rather than going through brokers to avoid overpaying and the complications of dealing with experienced brokers. Key moments 01:24 Common Mistakes in Business Buying 02:59 Financing Your Business Acquisition 05:04 Avoiding the Job Trap 06:08 Negotiation and Valuation Tips 09:02 Understanding the Business You Buy 11:01 Balancing Business Buying with a Day Job 13:10 Thinking Big in Business Buying 15:22 The Importance of Off-Market Deals 26:11 Case Study: Buying a Poultry Business 34:42 Conclusion and Final Thoughts
** Looking for a great acquisition lawyer in the UK? Use mine! **
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
Ready to get started?
Here’s how you can start your business buying journey…
Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit
Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast
Already bought a business?
if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information.
Business Buying Strategies from The Dealmaker's Academy