The statistics for the success of start up businesses is really bad. More than 95% of businesses fail in the first 5 years. But there is a way for you or your business to skip this vulnerable step.
Buy a business that is already profitable.
When you start from scratch, your revenues are going to be uncertain and so will your profits.
When you buy a business that is already profitable, that business has gone past it’s most testing times. And, the best part is you get profits from day 1.
The previous owner has already tested several methods and has identified a system that works for the business. So you don’t have to break your nerve about beating out an operating system before you run out of money.
There is a small warning though before you buy a business. There is a lot of due diligence that is involved in buying a business. It is not as simple as buying candy in a grocery store.
If you are looking to buy a business I insist that you do Richard Parker’s course on buying a business.
Richard says “The Average Small Business Purchase Involves 36 Critical Questions You Must Ask Every Seller, 200 Individual Points To Investigate, 54 Specific Clauses To Negotiate and 73 Key Issues To Review
In Every Business For Sale Listing.”
This is the link to Richard’s course on buying a business
http://www.killerbusinessopportunities.com/biz/diomo
Buying a Franchise: Better Business Bureau: Insider's Guide to SuccessThe investment required to license a franchise is a substantial sum. The results can be tremendously lucrative, providing both financial and professio... Read More >
Buying Your Own Business: Bullets: * Identify Opportunities, * Analyze True Value, * Negotiate the Best Terms, * Close the DealBuying your own business is the shortest route to realizing that dream-and often financially safer than starting from scratch. Buying Your Own Busines... Read More >
The Small Business Valuation Book: Easy-to-Use Techniques That Will Help You Determine a fair price, Negotiate Terms, Minimize taxesHow much a small business is worth can be difficult to determine, but when a business is about to change hands, a fair and objective valuation is cr... Read More >
Related posts:
- Due Diligence Checklist When Buying A Business
- Writing A Business Plan When Buying A Business
- Why Buy an Existing Business?
- Seven Simple Steps to Small Business Success
- Book Review of Richard Branson’s autobiography “Losing my Virginity: How I’ve Survived, Had Fun, and Made a Fortune Doing Business My Way”
