Buying a Business

The current job market is forcing many Americans to look at other options for earning a living, and many of them are turning to business ownership instead of another unfulfilling job in corporate America.  Perhaps you’ve always had a talent for selling or repairing appliances, or you’re ready to try something new.  A retail home appliance business may be the opportunity you’ve been waiting for.  But how does one go about finding a business like this for sale?  Short of hiring a business broker, the Internet offers a variety of resources that connect buyers and sellers in an FSBO business directory. 

With so many resources now available on the Internet, it is now possible to research any business idea and get information about existing businesses for sale.  Unfortunately, when you start looking for help in buying a business in Texas, you will undoubtedly run into business brokers who don’t have your best interests at heart.  This is not to say that a business broker cannot be useful in certain acquisitions, but when it comes to buying an existing business, it helps to deal directly with the current owner.

If the business you are looking for is something you will run and manage yourself, then talking to the owner will provide invaluable insight into how the business is managed.  For example, you can find out more about the owner’s reasons for selling, what his other challenges have been, how the business is positioned against competitors, etc.  Without this information, you will be at a distinct disadvantage in future negotiations.  That’s why there are business FSBO directories now available online, and they are fully equipped to help you with buying a business many areas of the country, including buying a business in Texas.

Have you been thinking about starting a business of your own, but you’ve been scared away by the economic crisis?  Instead of assuming the risk of a new venture, why not pick up where someone else is leaving off?  Considering the benefits of buying an existing business, it is no wonder they are selling so quickly.

Entrepreneurs and “would-be” entrepreneurs are a lot more cautious than they used to be about buying an existing business.  Most admit that they’d rather wait and miss an opportunity than buy a business that is unproven or overvalued.  As a business consultant and broker, I am often asked to weigh in about the key considerations when buying a business in Colorado.  In this risk-averse business climate, it is more important than ever to thoroughly evaluate a business that is for sale before making an offer.

If you are looking for a turnkey business opportunity that has a built-in customer base, then you may want to buy a convenience store. Depending on where you live and how much demand there is for convenience stores in your area, there are usually a few good convenience stores for sale.  The question is, when you find a convenience store business for sale, how do you know if it is a good deal?

Doing your “due diligence” is important when considering any new business venture but in this current economic climate, many of the convenience stores for sale may be showing signs of distress.  Whenever you see sparsely filled shelves, broken gas pumps, or other parts of the business in disrepair, it may indicate that they buyer is highly motivated to sell.  However, it could also indicate that the store has not been profitable for awhile, or may be suffering from a bad reputation. 

Page 5 of 7

Click to contact us for help buying or selling a business.  Since 1980 we have been in the "business of business." We are a professional company specializing in bringing Business Buyers and Sellers together. Being one of the Nations leading firms in our industry, we are best equipped to help you because of our background and years of experience in working with business buyers Nationwide and businesses of all sizes and types. Your business purchase or sale information will be handled by experts and conducted in a confidential manner.

Blog Topics