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Guide to Louisiana Business for Sale
How to find and buy a business for sale in Louisiana
It is often more expensive to buy a Louisiana business 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 when considering Louisiana companies for sale:
1. Review the tax returns and financial statements over the last few years for the business for sale. Louisiana businesses can measure their growth potential with actual experience rather than conjecture.
2. Examine the current profits of a small business for sale in Louisiana. 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. Louisiana businesses for sale may have obsolete inventory, dissatisfied employees or outdated distribution methods.
Action Steps
The best contacts and resources to help you get it done
Locate a Louisiana business for sale
Many websites offer listings of companies for sale. Louisiana listings of businesses for sale should show the location, asking price and cash flow, among other details.
I recommend:
Go to BizBuySell and select Louisiana as the business location. You can also narrow the search parameters by selecting the business category and asking price range. MergerNetwork has an extensive database of businesses for sale in Louisiana and provides a summary of each listing.
Locate business brokers in Louisiana to assist you in the purchase process of a business
Louisiana business brokers 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 Louisiana requires.
I recommend:
Matrix Business Investments in Monroe manages all aspects of the business brokerage process. Kellenberger & Associates can provide valuation services for a business for sale in Lafayette, Louisiana.
Hire a Certified Public Accountant before you buy a Louisiana 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:
LaPorte Sehrt Romig Hand in New Orleans provides a range of accounting services, including business valuations for business sales and acquisitions. Bourgeois Bennett has three locations in Louisiana and offers business valuations to its clients, primarily for sales and acquisition purposes.
Tips & Tactics
Helpful advice for making the most of this Guide- Determine the owner's reason for selling before buying a Louisiana 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 also will want to review the marketing strategy for the business because many lagging businesses can be revived with proper advertising.
