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Guide to Kansas Business for Sale
How to find and buy businesses for sale in KansasIt is often more expensive to buy a KS 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 a business for sale in KS:
1. Review the tax returns and financial statements over the last few years for the business for sale. Kansas businesses can measure their growth potential with actual experience rather than conjecture.
2. Examine the current profits for the small businesses for sale. Kansas businesses will have expenditures such as employees’ salaries, utilities and insurance that you must deduct from the sales revenue.
3. Inspect the operations of prospective business opportunities. Kansas businesses may have obsolete inventory, dissatisfied employees or outdated distribution methods.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 Kansas businesses for sale
Many websites offer listings of companies for sale. Kansas listings of businesses for sale should show the location, asking price and cash flow, among other details.
I recommend:
You can search BusinessMart.com for businesses by state, and you can further refine your search by specifying the type of business you seek. 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.
Locate Kansas business brokers to assist you in the purchase process
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 Kansas requires.
I recommend:
The DVS Group in Overland Park specializes in assisting former executives in the acquisition of businesses. Summit Business Brokers is in Hayes and evaluates businesses for both buyers and sellers.
Hire a Certified Public Accountant before you buy a Kansas business
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:
Jeff S. Hanson in Shawnee includes business valuations as a substantial part of his practice. Miller Haviland Ketter is in Westwood and is experienced in assisting its clients in mergers and acquisitions through its business valuation services.
Tips & Tactics
Helpful advice for making the most of this Guide- Determine the owner's reason for selling before buying a Kansas 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 Kansas business for sale. 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 Kansas requires.
