Buying a business is the only way to shortcut your way to success and independence. In fact, buying a business is the only time you can actually buy someone else's success story and make it your own! I've heard others say the best way to become successful is to model someone else. Forget that! I say buy their success and then run their proven system. Then you will learn how it's done. You can bypass the hard knocks.
Buying a business removes the dangers of the "high risk business start-up," that we see fail all too often. And unlike starting a business, where you live off borrowed money or credit cards during the start-up phrase, an established business gives you instant bankable income.
Our articles, online videos and resources will show you how to become a business buying expert and purchase your own established business.
25 Ways to Find Businesses to Buy
When you start your program to purchase your “ideal’ company, you quickly realize that your ultimate success will depend on two primary skill sets: 1) Your ability to FIND viable companies that are for sale, and 2) Your ability to effectively qualify the potential acquisition investment once found. This article is about only step one, how to creatively find viable companies and one’s that are able to be purchased.
Six Errors to Avoid in Buying a BusinessFor most business buyers, pursuing a viable business to acquire is a once in a lifetime event. Because of the infrequency and the complexity of pursuing a business to purchase, buyers typically risk unnecessary financial resources and waste valuable time to find their “ideal” acquisition. With a complete understanding of business purchase process fundamentals, a business buyer can effectively reduce the odds of not finding the right company or paying too for one.
Develop a Business Purchase PlanBusinesses are bought and sold everyday. Each transaction is unique, yet there are fundamental elements to the purchase process that are common. The purpose of this article is to highlight the sequential components of a typical business purchase plan. Whether you are a first time business buyer, or a veteran business acquisition specialist, it is imperative to understand the evolution and eventual structure of a business purchase transaction.
Creative Ways to Finance a Business PurchaseYou’ve just walked out of a business owner’s office, who has grown an established, profitable business that he is willing to sell to you, for very favorable purchase terms, at a fair price, but you have no clue how you are going to raise the necessary capital required to complete the purchase. Sound familiar?
Attributes of Companies you DON’T Want to Buy
There are no “rules of thumb” in the pursuit of companies to buy. Each purchase opportunity has to stand on its own merits. There are, however, attributes of acquisition candidates that need to be defined for what they really are before additional, limited resources are put at risk in a potential deal. It is absolutely critical for any proactive business buyer to understand, consider and deal with specific business characteristics that add unnecessary financial risk to the investment opportunity at hand.