It’s important to keep an open mind while searching for a business that will fit your needs, talents, skills and lifestyle.
Studies on the success of small to mid-size businesses are continually underway by private and public organizations such as the Small Business Administration and private lending groups. Historically, the one thing that has proven to be relatively constant is the high rate of failure in “start-up” businesses. Statistics have been quoted indicating between 80% – 90% “start-ups” fail for numerous reasons.
Because of this, smart investors, and those such as yourself, who want to go into business search for an existing enterprise. Below are some of the most common topics and questions frequently brought up by buyers. If you have any questions that we have not covered, please don’t hesitate to contact us.
- An established business reputation withinÂ the industry and the community.
- An established customer base.
- Immediate cashflow upon entrance of theÂ business.
- Transitional training by an owner who has successfully operated the business.
- Job security.
- Trained and skilled personnel.
- Established credit with vendors andÂ suppliers.
- Current occupational licensing in place
- Cost and time reduction in legal and professional assistance.
- Cost savings for printing forms,Â documents, and business stationery.
- Reduction in cost and time to developÂ advertising and marketing
- Assurance that the business actually has a place in the market, rather than assuming that a “start-up brainstorm” will be readily received by multitudes of customers.