How to buy a company?

Question

I want to buy a company but don't have enough money I was wondering if their is any banks or anything that could provide me with money so that I can buy a company. Also what sort of detail will they be asking me and could you please give me details about UK banks and other things that provides money to buy a company I'm 20 by the way so will it be ok with them. Thank you all for your time

Answer 1

I assume you are looking for a few hundred or a few thousand pounds ?

i.e.

a) You wish to purchase a 'ready made' registered Company (that has never traded) in order to start your own business

or

b) You wish to purchase a Franchise ..

If you have in mind 'buying' an existing going concern, well you will need more than a few hundred thousand :-) and (at least in my view) you are too young, and lack the experience needed, to successfully run a business ..

I suggest you consider (a) above and start your own business for the ground up .. that way you will learn as you go along and a few mistakes will not cost you a couple of million ££'s .

The second alternative, a Franchise, may also be a possible way forward .. however (I suggest) only if it is in a field where you already have some knowledge / experience (for example, if you have been 'doing up old cars' then a car repair franchise might be a good route to take)