{"id":561388,"date":"2012-06-27T03:25:14","date_gmt":"2012-06-27T07:25:14","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbgreenbay\/who-is-todays-buyer\/"},"modified":"2022-01-31T12:44:38","modified_gmt":"2022-01-31T17:44:38","slug":"who-is-todays-buyer","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/who-is-todays-buyer\/","title":{"rendered":"Who Is Today&#8217;s Buyer?"},"content":{"rendered":"<div>\n<p>It has always been the American Dream to be independent and in control of one\u2019s own destiny. Owning your own business is the best way to meet that goal.\u00a0 Many people dream about owning their own business, but when it gets right down to it, they just can\u2019t make that leap of faith that is necessary to actually own one\u2019s own business.\u00a0 Business brokers know from their experience that out of fifteen or so people who inquire about buying a business, only one will become an owner of a business.<\/p>\n<p>Today\u2019s buyer is most likely from the corporate world and well-educated, but not experienced in the business-buying process.\u00a0 These buyers are very number-conscious and detail-oriented.\u00a0 They require supporting documents for almost everything and will either use outside advisors or will do the verification themselves, but verify they will.\u00a0 A person who is realistic and understands that he or she can\u2019t buy a business with a profit of millions for $10 down is probably serious.\u00a0 They must be able to make decisions and not depend on outside parties to do it for them.\u00a0 They must also have the financial resources available, have an open mind, and understand that owning one\u2019s own business means being the proverbial chief cook and bottle washer.<\/p>\n<p>Today\u2019s buyers are usually what might be termed \u201cevent\u201d driven.\u00a0 This means that the desire to own their own business is coupled with a need or reason.\u00a0 Maybe they have been downsized out of a job, they don\u2019t want to be transferred, they travel too much, they see no future in their current position, etc.\u00a0 Many people have the desire, but not the reason.\u00a0 Most people don\u2019t have the courage to quit a job and the paycheck to venture out on their own.<\/p>\n<p>There are the perennial lookers.\u00a0 Those people who dream about owning their own business, are constantly looking, but will never leave the job to fulfill the dream.\u00a0 In fact, perspective business buyers who have been looking for over six months would probably fit into this category.<\/p>\n<p>Business brokers spend a lot of time interviewing buyers.\u00a0 Here are just a few of the questions they will ask. The answers they receive will determine whether or not the prospective buyer is serious and qualified.<\/p>\n<ul>\n<li>Why is the person considering buying a business?<\/li>\n<li>Has the person ever owned their own business?<\/li>\n<li>How long has the person been looking?<\/li>\n<li>Is the person currently employed?<\/li>\n<li>What kind of business is the person looking for?<\/li>\n<li>Is he or she flexible in the kind of business?<\/li>\n<li>What are the most important considerations?<\/li>\n<li>How much money is available?<\/li>\n<li>What is the person\u2019s timeframe?<\/li>\n<li>Does the person\u2019s experience match the type of business under consideration?<\/li>\n<li>Who else is involved in the purchase decision?<\/li>\n<li>Is the person\u2019s spouse positive about owning a business?<\/li>\n<\/ul>\n<p>There are other questions and considerations, but those cited above reveal the depth of a buyer interview.\u00a0 Business brokers want to work only with buyers who are serious about purchasing a business.\u00a0 They don\u2019t want to show a business to anyone who is not qualified, which is simply a waste of their time and the seller\u2019s time.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It has always been the American Dream to be independent and in control of one\u2019s own destiny. Owning your own business is the best way to meet that goal.\u00a0 Many people dream about owning their own business, but when it gets right down to it, they just can\u2019t make that leap of faith that is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-561388","post","type-post","status-publish","format-standard","hentry","category-selling-a-business"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/comments?post=561388"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561388\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media?parent=561388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/categories?post=561388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/tags?post=561388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}