Event Title

How to Purchase an Existing Construction Company

Presenter Information

James Besonen, Minnesota State University - Mankato
Nicholas Miller, Minnesota State University - MankatoFollow

Location

CSU Ballroom

Start Date

21-4-2014 2:00 PM

End Date

21-4-2014 3:30 PM

Student's Major

Construction Management

Student's College

Science, Engineering and Technology

Mentor's Name

Matthew Durand

Mentor's Department

Construction Management

Mentor's College

Science, Engineering and Technology

Description

For your business, it is a good idea to have a general understanding of what you are looking to accomplish in a certain amount of time. This concerns anyone who wants to start a business or purchase a company. Several companies go bankrupt from unknowledgeable purchases of a company. The reader should know, or have an understanding of smart investments into an existing company. It is unwise to go into a business blindly with the intent to purchase a company; it will likely backfire. Our goal is to provide the reader’s simple steps and ideas on how to successfully purchase an existing construction company. We researched through scholarly articles that are about existing construction company purchases. We also called family members in the construction businesses that have already had their construction company purchased from someone else. Our results show that unknowledgeable purchases of construction companies often end in financial loss of the company. Our findings from two main articles proved to us that you have to be knowledgeable of the business that you are entering in or it’s best to retain a quality work force and managers who can maintain financial success and run the business. You also have to make sure you purchase the assets.