Buying Into An Existing Business -

The day after the sale is the most dangerous. You need a transition period (usually 3–6 months) where the former owner stays on as a consultant to introduce you to key clients and train you on the "unwritten rules" of the operation.

Before looking at listings, decide what kind of "buy-in" you are doing: buying into an existing business

Review at least 3 years of tax returns, P&L statements, and balance sheets. Watch out for "owner add-backs" (personal expenses run through the business). The day after the sale is the most dangerous