Posted 11-10-2008 5:13 pm by
Are you dreaming of becoming a business owner? If so, you aren't alone. Many people have the goal of someday owning a business and freeing themselves from working for someone else. But, when it comes to starting a business, there are many roadblocks that can get in the way and make business ownership difficult if not impossible.
Are you dreaming of becoming a business owner? If so, you aren't alone. Many people have the goal of someday owning a business and freeing themselves from working for someone else. But, when it comes to starting a business, there are many roadblocks that can get in the way and make business ownership difficult if not impossible. The start up costs involved with building a customer base, screening and hiring employees and marketing the business is more than many people can afford. Therefore, if you long to be a business owner, you might want to consider purchasing a business that has already been established rather than starting one from scratch.
Reducing Your Risks
One of the greatest benefits of buying a business rather than starting your own is that it can significantly reduce your financial risks. This is because taking over a business allows you to take over its current cash flow, which also means you are taking over its profits. If the business is well-established, you can start making money from the business as soon as you take it over. With a startup, on the other hand, you generally have to invest a great deal of money before you know whether or not it will actually be a success.
Of course, purchasing a business that is already established can be quite costly as well. Therefore, you need to research the business thoroughly before you make a purchase in order to reduce your risks.
Increasing Your Financing Options
Another benefit to buying a business rather than starting one from scratch is the fact that many banks and investors are more willing to provide financing for a business that is already established. The reason for their willingness to invest in a business that is already established is tied directly to the fact that investing in an established business is less risky.
Enjoying Options
When purchasing a business that is already established, you may be surprised to ind that there are numerous available businesses within a wide variety of niches. By exploring your personal interests and skills, you can select the type of business that you are most interested in and that you are the most likely to be able to successfully operate. You can also select a business in the geographic location where you would like to live. In fact, even if a business is not listed as being for sale, you might want to consider making an offer for an established business that you are interested in - you just might be able to make a deal that will make you both happy!
In order to help you find the right business to purchase, you might want to consider hiring a broker. Although you will have to pay the broker 5 to 10 percent of your purchase price, the broker can help you with prescreening the business, determining your business interests, negotiating the best deal and completing the proper paperwork.
Owning your own business is a great way to finally achieve the freedom you have always wanted. Although starting a business can certainly be satisfying and profitable, you should give serious consideration to buying a business in order to reduce your risks.
AARON MULLER| ADVANTAGE COMMERCIAL BROKERS
BUSINESS BROKER, COMMERCIAL PROPERTY SPECIALIST
DIRECT: 425.766.3940
FAX: 425.882.2547
CHECK OUT MY LISTINGS AT www.acbrokersinc.com
