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Buying the Right Spot

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

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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