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Guide to Oklahoma Business for Sale
How to find and buy a business for sale in OKIt is often more expensive to buy an Oklahoma 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 when considering Oklahoma businesses for sale:
1. Review the tax returns and financial statements over the last few years for a business for sale. Oklahoma businesses can measure their growth potential with actual experience rather than conjecture.
2. Examine the current profits for the small business for sale in Oklahoma. Oklahoma 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. Oklahoma businesses may have obsolete inventory, dissatisfied employees or outdated distribution methods.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 Oklahoma business for sale
Many websites offer listings of companies for sale. Oklahoma listings of businesses for sale should show the location, asking price and cash flow, among other details.
I recommend:
MergerNetwork has an extensive database of businesses for sale in Oklahoma and provides a summary of each listing. You can search BusinessMart.com for businesses by state, and you can further refine your search by specifying the type of business you seek.
Locate Oklahoma business brokers to assist you in the purchase process
OK 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 required licenses and permits involved in an Oklahoma business sale.
I recommend:
CF Alexander & Co. in Edmond is affiliated with several brokerage networks and is experienced in buying and selling businesses of all sizes in Oklahoma. Davis Resources Group is in Oklahoma City and provides a range of brokerage services for buyers and sellers in Oklahoma.
Hire a Certified Public Accountant before purchasing a business for sale in Oklahoma
A CPA will need to review the financial records of Oklahoma business investments. Additionally, a CPA can ensure that you file any required legal documents.
I recommend:
Hyde & Company is in Oklahoma City and provides a complete range of accounting services including business valuations. Gray, Blodgett & Company in Norman performs business valuation services for the purposes of disposition and acquisition.
Tips & Tactics
Helpful advice for making the most of this Guide- Review the physical assets of the Oklahoma 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 Oklahoma requires.
