JoAnn Lombardi – Planning when Buying a Business

Importance of Planning when Buying a Business

By JoAnn Lombardi

VR advises to develop a business plan that can help ensure that you know what your goals are and how to achieve them. In essence, a business plan is a road map that helps you focus on the most important points.

Here are some points to consider:

Examining Your Objectives …

Evaluating Strengths and Weaknesses

  1. Marketing and Sales – Research distribution channels and pricing strategies;
  2. Manufacturing – Analyze product costs such as raw materials, labor and overhead, availability of materials, operational forecasts and condition and capacity of manufacturing facilities;
  3. Business’ Financial Position – Estimate the company’s future working capital and capital investment requirements, current talent and expertise and transferability of skills.

Neglecting the Business Plan can Result in Failure …

Read the full article at  The Importance of Planning when Buying a Business


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