It's a given that a good business plan is critical if you are starting a business from scratch. But what about when you are buying an existing business? Tim Berry of Palo Alo Software (which specializes in business planning tools) has some great suggestions to consider when planning to buy an existing business.

It's a given that a good business plan is critical if you are starting a business from scratch. But what about when you are buying an existing business? Tim Berry of Palo Alo Software (which specializes in business planning tools) has some great suggestions to consider when planning to buy an existing business.

According to Berry, even if the current business owner has well written plan, you want to start with that and proceed with caution, "Assume the seller’s plan was developed to sell the business, not to manage the business, and may be too optimistic." He advises.

Berry outlines additional considerations in his article, Planning for Purchasing a Business (click the link to read the full article).