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Monday, February 22, 2010

Buying a Business Instead of Starting One

JoAnn Lombardi
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So you’ve made the decision to own a business. Hundreds of people work their way through the same thought process, weighing the costs and benefits of self-employment versus career employment. Yes, there are risks to taking the route of owning your own business; but when you buy an existing business as opposed to starting one from scratch, you have the best overall chances financially and emotionally of succeeding.  
The advantages to buying a business are less risky where you already have an ongoing stream of revenue, which allows you to focus only how to maintain it and improve the cash flow. With an existing business, you are purchasing a proven customer base, steady suppliers and hopefully loyal employees.  
Investigating Buying a Franchise
Another intermediate option is buying a franchise that combines the start-up component with a time-proven product and service with an operating system. With being a franchisee, you will be following a corporate system of doing things – rules, regulations, restrictions, requirements. You will also be putting down a franchise fee as well as royalty expenses and advertising fees. Many of the best opportunities in our market today revolve around established franchise businesses that can be incredibly profitable and allow for further expansion through opening additional franchises.  
Why You Should Buy an Established Business
A primary reason why you should buy an already-established business as opposed to a start-up endeavor is simple: there are an extraordinary abundance of quality business out there to choose, based on your interests and needs.  
If you are flexible in terms of the type of business to choose from and the geographic location, there are thousand of possibilities to choose from in a given metropolitan area. The key is to find the right business at the right price. Here at VR, we can help you successfully buy a business.  
Every VR business intermediary is uniquely qualified to assist you with a fine-tuned evaluation, providing expert insights and suggestions on your way to self-employment.


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