Acquiring your own business is a big step in which you have to overcome fears and doubts. Almost 90% of all people who buy a business have never run a business before. For this reason, it is important to obtain sufficient information in advance, so you are faced with the question: Take over the company – what should you watch out for? In this first article we want to give you some key questions and also show you further articles.
Take over the company – what should you watch out for?
Many companies are being sold head over heels. The previous boss is in need of money. Or he gets sick. Now is your hour. You buy the business quickly and get started right away. Or not? Even if time is of the essence, as a successor you should stay cool and clarify the following questions first. This is not the complete answer to the question: Take over the company – what should you watch out for? But you can at least get some initial information.
- How much is the company or operation really worth? Have you looked closely at the company’s profits over the past few years? Do you see the purchase price justified?
- What are the company’s chances of development? Where will the company be in three to five years? Does he have a loyal clientele? What do the suppliers say? You have to know immediately where to start after the takeover!
- How do you finance the takeover? Financing must stand on solid foundations.
- How does the purchase proceed in a legally clean manner? Anyone who buys a GmbH has to consider a lot under tax law. The handover must be professional. A handshake is definitely not enough. Here, too, it makes sense to find out more.
- Do you do it all alone Anyone who wants to buy a company is taking a risk. It often makes sense to look for a mentor. This does not have to be an expensive consultant; someone who already runs a company himself is enough.
Determine the takeover price
This is also an important aspect in the rubric: Take over the company – what should you watch out for? – You should agree exactly what you are willing to pay and what the company is worth. Everything you save here can be invested directly back into your new company. The Portal Germany starts says:
As a rule, the buyer pays a higher price than the pure value of all assets (so-called. Intrinsic value ). This added value results from the goodwill and the earnings value. Of the Goodwill describes the immaterial status quo and includes, for example, the reputation of the company or the customer base. Of the Earned value on the other hand, it provides information about the “profit” to be expected, which remains for three to four years after deducting an appropriate entrepreneur’s salary and an appropriate return on equity. A possible approach for calculating a takeover price would be:
Net asset value + earnings value + goodwill = takeover price
Of course, this is only one way of determining the takeover price and cannot be understood as a generally applicable approach. The determination of the company value becomes more difficult with every missing information.
To do or not to do?
The decision whether you want to start or buy a company, or whether you want to become self-employed at all, cannot be made for you. Only you can meet them! On Projektify you can view companies for free or hire your company. As an alternative, you can first buy a small web project for, for example, less than 1000 euros to practice, so to speak. Be sure to read our additional information Tips on How to Take Over a Business you can go through or try it out and look at our advertisements or post your web project with us for free !
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