Define your budget and financing options
Identify the type of business you want to buy
Research industries, markets, and locations
Search for businesses for sale
Review financial statements, tax returns, and records
Assess assets, liabilities, contracts, and inventory
Evaluate customer base, reputation, and competition
Determine the reason for the sale
Perform due diligence with legal and financial professionals
Verify licenses, permits, and regulatory compliance
Negotiate purchase price and terms
Structure the deal and financing
Draft and review the purchase agreement
Transfer ownership, assets, and accounts
Update registrations, licenses, and insurance
Plan the transition and operations handover