If you’ve always dreamed of owning your own business, but the idea of starting from scratch just isn’t for you, buying an existing business or looking at franchises may be an option. Depending on the amount of time and money you have to invest, buying a business can have many advantages for a budding entrepreneur.
First off, there can be substantial savings in time, energy, and sometimes even money when buying an existing business or franchise. Buying a successful, established business cuts out much of the initial research and time needed to create business plans and models that an entirely new venture might require. Often, when individuals decide to sell a business they prepare a business plan or offering summary for you so there are fewer unknowns. Also, if you need financing for your purchase, it can be easier to obtain loans for an established business that has a proven revenue stream, than it can be for a startup.
When looking at turnkey businesses for sale, where everything is included in the purchase, you get the infrastructure that has already been established by the previous owner. This includes the customers, suppliers, employees, equipment, and processes. It is a good possibility that the previous owner may offer some insight and assistance, therefore making the transition easier. In addition, the cash flow will most likely start immediately, so assuming you made a good deal, profitability is not in question as much as it would be with a new startup. With the infrastructure in place, and an existing revenue stream, you can put your focus on marketing and growing the business.
Additionally, investing in franchise opportunities carries the advantage of knowing that the particular business has been successful in other locations. The idea and process of running the business have already been proven, virtually eliminating the need for experimentation, and significantly reducing the risk of failure, assuming you are able to secure an appropriate location for your franchise.
If reading this makes you feel like buying a business or franchise is right for you, check out BusinessMart.com, a website which is the fastest growing search engine listing businesses for sale, helping both buyers and sellers of small businesses and franchises. FranchiseBuyersNetwork.com, which is owned and operated by Business Mart, Inc., helps individuals looking for information on opening a franchise or business opportunity and guides them on a path towards success!