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Andrew's top 12 tips
Why buy an existing company in France ?
Hi, my name is Andrew. I’m English and I’m from Farnham in the south of England but for the last four years I’ve lived in a tourist area in the middle of Auvergne in the centre of France. I bought an existing business, a hotel restaurant. I liked the idea of buying a business that was already up and running, it seemed easier.
The initial steps for running a business in France
Since 2006, if you are a citizen of the EU or the European Economic Area, it’s easy to come to France and buy an existing business.
Where can you buy an existing business?
Having defined what type of business one is targeting…. How do you look for existing businesses that are for sale? Personally, I used a website called www.transcommerce.com which has a huge reservoir of businesses for sale.
What information about the business do you need to know?
How do you finance the project?How do you finance the project?
At this stage of my acquisition, I’ve written out my business plan, in other words, I’ve calculated as precisely as possible my sales and my costs in the foreseeable future. I’ve also balanced out my financial plan.
This is it… I’m buying !
I’ve found the business of my dreams. I’ve agreed on a price and the various conditions. My bank has agreed to my financial plan but here are still some legal formalities to finalize
Why come to France and how to get ready ?
Choosing to leave your home country to live and work in a foreign country is not an easy decision to make. It’s a professional choice, but also a choice of a way of life.
Defining the target
Once my family and I had taken the decision to buy a business in France, then I had to chose what business to buy. I didn’t want to take any risks so I chose a business that was in line with my background and experience
Who can help me set up my project ?
A lot of research shows that having competent advise and support increases considerably a potential buyer’s chances of success. It’s probably even more true for people like me who are leaving their home country to live and work abroad.
How do you estimate the value of a business?
Evaluating a company is not a haphazard activity. Certain economic and financial factors have to be taken into account in order to calculate the right price.
The negotiation
Negotiating the price of the business was no more complicated than any of the other steps. Everything has to be negotiated.
Let’s get going – I’m in business !
It’s « champagne » time, I just got my Kbis which is my official company registration number which means that I have officially changed status from somebody with a project to a business owner and the head of my own company.It’s « champagne » time, I just got my Kbis which is my official company registration number which means that I have officially changed status from somebody with a project to a business owner and the head of my own company.
