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Guide to New Mexico Business for Sale
How to find and buy New Mexico businesses for saleIt is often more expensive to buy a NM 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 NM businesses for sale:
1. Review the tax returns and financial statements over the last few years for the business for sale. New Mexico businesses can measure their growth potential with actual experience rather than conjecture.
2. Examine the current profits for small businesses for sale. New Mexico 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. New Mexico businesses may have obsolete inventory, dissatisfied employees or outdated distribution methods.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 a New Mexico business for sale
Many websites offer listings of companies for sale. New Mexico listings of businesses for sale should show the location, asking price and cash flow, among other details.
I recommend:
BusinessBroker.net allows you to select the business location by state, and you may also specify an industry and asking price range in your queries. MergerNetwork has an extensive database of businesses for sale in New Mexico and provides a summary of each listing.
Locate New Mexico business brokers to assist you in the purchase process
You can identify businesses that are clearly undesirable and help negotiate a price on the best candidates with the help of business brokers. New Mexico business brokers also will help you obtain any licenses and permits that New Mexico requires.
I recommend:
Arne & Co. in Albuquerque specializes in sales, acquisitions and valuations for transitions with values from $500,000 to $25 million. Vaughan Company Business Opportunities is the largest business broker in New Mexico and offers a range of brokerage services to clients in the state.
Hire a Certified Public Accountant when considering buying a New Mexico business for sale
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:
Phillippi Wright & Co. is in Albuquerque and provides a range of accounting services, including business valuation. Barraclough & Associates is in Santa Fe and has specific expertise in business valuations and consulting.
Tips & Tactics
Helpful advice for making the most of this Guide- Determine the owner's reason for selling before buying a New Mexico 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.
