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shopping for businesses is a great way to learn about what's
available and what is reasonable for you with your needs,
experience, geography, and resources.
But, it is just the very
beginning of an intelligent search and professional
business acquisition.
"To
Know the Road Ahead,
Ask
One Coming Back."
Wise
Chinese Proverb
There are many resources
available from this page, but none substitute for a human
expert when you believe that you are ready to buy.
Fund
Your Business with YOUR  Money--without
Penalties
What are
the Main Reasons People Buy a Business?
1. "No more
Corporate Life; I want to be my own boss"
2.
"Tired of making other people wealthy. I want my hard work to improve
my own financial situation."
3.
" I have a lifetime of skills and experience to use to really grow a
business."
4.
"I want the FREEDOM and FLEXIBILITY of ownership."
5. "I have not done this yet, and I always wanted to try
it."
What are
the Main Risks in Buying a Business?
1. Not enough
money for working capital creates a problem VS a success in the early years of a
business.
2. Taking
on too much debt-- too much risk.
3.
Choosing a business with a poor fit to one's skills and experience.
4.
Naivete about the realities of small business-glamorizing
or underestimating the work demands.
5. Failing to PLAN for transition, exit plan, or succession.
6. Bad
Timing-- Buy when there's room for improvement. Plan to sell when the business
is doing very well, and there is still room for growth.
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