Buy a Business Online or Start Your Own?

Andy Anderson

At some point or another, almost everyone experiences some type of career burnout.  Either you are in the wrong career and it’s wearing you down or you need more time to enjoy your family, but you may have been bitten by the “entrepreneurial bug.”  Before you go out and buy a business online or try to start one yourself, there is a lot to be learned about business ownership.

How to search for and buy a business online

One way to learn more about which businesses are hot is to search through an online business directory like BizSale.com.  Not only will you find out how easy it is to buy a business online; you will also find out how much it might cost to get started.  Before online directories existed, the only way to find out about a local business opportunity was to read the Classified section of your local newspaper.  Today, it’s possible to search through thousands of business listings by state, industry, and price range.  Most of the businesses listed in these directories are “for sale by owner.”  This doesn’t mean you cannot bring in your own agent or business broker, but it will allow you the flexibility to deal directly with the business owner.

New business vs. existing business

Keep in mind that there are many aspects to business ownership that may be entirely new to you.  It helps to do a personal assessment of your strengths and weaknesses before deciding on a business.  If you were starting a business from scratch, you would need to apply for a small business loan, which will require you to write a business plan showing how the business will grow.  However, when you buy a business online, you may be able to get seller-assisted financing.  An existing business will already have an established customer base, so you would essentially be picking up where the previous owner left off.

While the “entrepreneur” in you may not be satisfied with buying an existing business, your practical side may be willing to give up some freedom in exchange for an immediate source of income.  In an economy that remains uncertain, an existing business is much less risky.  Successful businesses have a proven track record that usually continues after they are sold.  Once you take ownership, you can still customize and make changes as you see fit, but you will not have to undergo a prolonged start-up period.

Start the process of searching for business opportunities by visiting the online directory at BizSale.com.  Whether you use it to buy a business online or to research businesses in your area, a searchable directory is a valuable resource on your path to entrepreneurship.

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