Neufeld Legal P.C.
Purchase Business - Strategy and Law of Buying a Business
416-887-9702    905-616-8864    403-400-4092 

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1. Do not be tempted into paying too much to buy a ready-made business because you want your business life to get off to a flying start.

2. Clarify your thoughts about the market you want to enter, the size of business you want to run, the type of product or service you want to offer and how much you want to pay before you start searching for a business to buy. Summarize it in a business profile.

3. Consider seeking out a business which fits your profile as well as investigating all those currently advertised for sale.

4. Use advisers to help you investigate a partnership or business.

5. Adopt a sceptical approach to investigation; query and question everything about the business.

6. Be realistic about the effect of a change in ownership; there could be changes for the worse as well as the better.

7. Set two prices before you go into negotiation; the lower one with which you start the bidding, a higher price beyond which you will not go.

8. Negotiation is everything. There are no rules; there is no right price for any business. It is up to you to summon your facts and marshal your arguments to keep the price as low as possible.

For experienced legal advice when purchasing a business, contact business lawyer Christopher Neufeld at or by telephone at 416-887-9702 [Toronto]; 403-400-4092 [Calgary]; or 905-616-8864 [South West Ontario].


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The information presented herein is intended for information purposes only and solely as a general guide. The information is not intended as legal advice. It is a summary of selected/potential issues and does not represent a definitive or complete statement of strategies and law relevant to scenarios that are highly particularized, fluid and rarely, if ever, certain and fully disclosed. The information may not address the special needs, interests and circumstances of a particular scenario, with a single factor potentially necessitating an entirely different approach. Scenarios differ and you are strongly urged to seek specific professional business and legal advice.

Neufeld Legal P.C. is strategically positioned to effectively serve key Canadian business markets, with offices located in Toronto, Calgary, Mississauga and Burlington. As such, we are capable of effectively serving the western Greater Toronto Area (GTA), including downtown Toronto, Mississauga, Burlington, Oakville, Hamilton, Brampton, Milton, Guelph, Kitchener Waterloo, Cambridge, London, St. Catharines and Niagara Falls, together with the city of Calgary and southern Alberta. Copyright 2010.

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