Buying the Right Spot

Before you buy an existing business, check out the location.

If you are buying an existing business, look at the location as if you were starting from scratch. Ask questions like: Does the site meet your present and future needs? Have there been any changes regarding the location in recent years that could have a positive or negative impact? Will you be taking over the seller's lease, and can it be renegotiated?

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need

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