An existing business has a proven track Job Function Email List record. * An existing business has customers. * An existing business already has employees. * An existing business Job Function Email List has relationships with vendors. * When you buy a business you acquire the hard assets which include furniture, fixtures, and equipment Job Function Email List. Because they are part of the purchase price they are usually being acquired at a substantial discount over buying new. Job Function Email List* In most transactions the seller will provide Job Function Email List training during a negotiated transition period so you're not starting Job Function Email List from square one.
Some experts will advise Job Function Email List you to buy into a franchise if you want to be your own boss. This too is a way of minimizing risk because the failure rate of franchisees Job Function Email List is usually lower than independent start ups. I would agree with this, but I would take it one step further. Buy a franchise "resale" instead because you will have Job Function Email List all of the advantages previously outlined and the ongoing training and support of the franchisor. Please note Job Function Email List that buying a business is certainly not a walk in the park. One must perform careful due diligence to make sure everything that is being advertised is accurate.
Financial records have to be examined and verified. One must make sure that they look at all internal and external factors such as employees, competition, Job Function Email List industry changes, etc. I always advise business buyers not to purchase a business unless they feel they can improve upon it. Very few businesses can stay on cruise control. If you are not growing the business it will most likely decline. It is all about risk and minimizing that risk.