Making the move to buy a business takes a certain amount of courage, especially if it's unknown territory. We've often seen potential entrepreneurs let their own fears and insecurities stand in the way of achieving their greatest dream.

You've found the perfect opportunity: an established business with a customer base already in place in a field you're passionate about. And it's for sale! But you're not sure if you can afford it.

Among the most valuable tools for determining the value of a businessis its balance sheet. It can reveal some very telling information about the company if you know what to look for.

Have you been contemplating buying a business lately? There are lots of opportunities available in Minnesota right now. The advantages of becoming a business owner are innumerable. Here are just a few:

The reasons behind what motivates a business owner to decide to sell can be as varied and diverse as the ones that lead someone to put their home up for sale. While the decision can be very personal and there's no obligation to disclose the reason the business owner is selling, it can have some important significance to the new business owner.

When you are beginning the process of buying a business, you want to know as much about it as possible so that you're fully aware of what you're getting into and you can make an informed decision. The trouble is that you don't know what you don't know. That is to say, that you can't possibly find out everything there is to know about the company, nor can you foresee what detail or aspect you’ll later wish you'd had knowledge of.

The way a business transitions from one owner to the next can have significant repercussions for its future success. Could you imagine what might happen if, upon completion of the sales transaction, the seller handed the keys to the buyer and, with a “good luck”, simply walked away? So much knowledge, insight, and history would also be going right out that door.

After countless working hours dedicated to purchasing a business, it’s time to start considering the events that will happen soon after the purchase is completed. Sometimes, along with buying an existing business, you automatically inherit the employees and individuals who now work for you.

Purchasing a business is the end of one journey and the beginning of another. Take a moment to congratulate yourself on navigating the buying process and coming out on top - well done! And now, it's time to keep (or make) your business a success.