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Guide to Alabama Business for Sale
How to find and buy companies for sale in AlabamaIt is often more expensive to buy an AL business for sale than to start a new one, although it is generally easier to obtain financing for an existing business. Investors tend to be more comfortable with a business that has a proven performance.
There are three primary actions to perform before buying Alabama businesses for sale:
1. Review the tax returns and financial statements over the last few years for the business for sale. Alabama businesses can measure their growth potential with actual experience rather than conjecture.
2. Examine the current profits for the small businesses for sale. Alabama businesses will have expenditures such as employees’ salaries, utilities and insurance that you must deduct from the sales revenue.
3. Inspect operation involved in the prospective business sale. Alabama businesses may have obsolete inventory, dissatisfied employees or outdated distribution methods.
Action Steps
The best contacts and resources to help you get it done
Find an Alabama business for sale
Many websites offer listings of companies for sale. Alabama listings of businesses for sale should show the location, asking price and cash flow, among other details.
I recommend:
The advanced search option at BizQuest.com will let you select the type of business, city and length of time on the listing, among other parameters. Go to BizBuySell and select Alabama as the business location. You can also narrow the search parameters by selecting the business category and asking price range.
Locate Alabama business brokers to assist you in the purchase process of a business
A broker can identify businesses that are clearly undesirable and help negotiate a price on the best candidates. A business broker also will help you obtain any licenses and permits that Alabama requires.
I recommend:
Statewide Business Brokers is headquartered in Montgomery and brokers businesses in Birmingham and Huntsville. The Reed Group specializes in businesses throughout the Southeast with revenue of less than $5 million.
Hire a Certified Public Accountant before purchasing a business for sale in Alabama
A CPA will need to review the financial records of any business in which you are interested. Additionally, a CPA can ensure that you file any required legal documents.
I recommend:
Sirmon & Pawlowski has offices in Mobile and Daphne, and provides business valuation services. MDA Professional Group is a full service accounting firm in Huntsville and performs business assessments on franchises for sale in Alabama.
Tips & Tactics
Helpful advice for making the most of this Guide- Determine the owner's reason for selling before buying an Alabama business for sale. The owner may no longer be interested in running the business or there may be legitimate financial reasons for putting it up for sale. You will also want to review the marketing strategy for the business because many lagging businesses can be revived with proper advertising.
- Review the physical assets of the business for sale in Alabama. You will need to know if the office equipment, machinery and other property is actually in working order. You will also want to inspect the building itself to know if it meets the health and safety standards that Alabama requires.
