Why Buying a Business is Your Best Bet
- Author Jessica Fialkovich
- Published February 17, 2019
- Word count 489
To own a business is to fulfill the American Dream. It brings to mind the ideas of success, financial freedom, and the sense that you’ve made it. These are all moving ideas that still hold true today, many years beyond the initial emergence of the American Dream. Fortunately, for the modern entrepreneur the path to business ownership is even more accessible than ever. Financing options are a plenty, small business is valued across American culture, and the business for sale market is booming with viable small businesses for purchase.
When dreaming of owning a business, most entrepreneurs don’t begin with the concept of buying a business - usually their vision involves a startup business. But as a visionary professional it is important to weigh your options to business ownership to ensure a path paved with success.
How unique is your business idea? If you are one of the lucky few to develop a highly unique business concept, than kudos to you for your savvy innovation. But most small businesses are based on similar business models, that have withstood the test of time. This means that it’s very likely you can buy a business and mold it into your dream business with a few tweaks here and there.
What is your level of risk aversion? Starting a business is risky business, pardon the pun. 50% of small businesses fail within the first 5 years of operation. That is a statistic to take under serious consideration. Buying a business is much less risky, because the business already has a proven concept, customer base, revenue, and cash flow. If you’re ready to take control of your financial future through business ownership, but don’t want to risk the high level of failure associated with a startup business, buying a business may be for you.
Can buying a business provide me with much needed assets? Business owners who choose to grow through acquisition are very familiar with this gem of wisdom, but buying a business for its assets can be utilized as a new entrepreneur as well. Buying a business can offer a business owner access to a location that would be otherwise unavailable, or trained employees, inventory & FF&E, and even a previously built out space to get ahead of the curve.
What is it about business ownership that draws you in? If your draw to business ownership is because you are type A and want to control every last detail of your business, then the startup business may be for you. But if you are more drawn to running the business operations, managing employees, talking with customers, or improving operations, then buying a business will offer this opportunity to you.
Above are just a few of the considerations when thinking about becoming a business owner. If buying a business is the path to business ownership you want to take, we invite you to visit our website for more information.
Jessica Fialkovich is an M&A expert, & award-winning business owner whose mission is to help business owners build the value of their businesses and exit successfully. Over the past 5 years, Jessica has overseen $60 million in transactions. Currently, she’s the President of Transworld Business Advisors - Rocky Mountain, Colorado’s top business brokerage firm.
Join our newsletter for more content!http://articlebiz.com
There are no posted comments.
- What face mask to use to protect against SARS-CoV-2?
- How to Decorate Home with Copper Tiles
- Social Entrepreneurship
- Bacterial lysates, or immunization vaccines for children
- What do economic crises teach us?
- Who Will We Hire After the Wildfire?
- What Are Cardiovascular Endurance Sports? 5 Examples Provided
- 5 homemade yogurt issues and easy solutions:
- Travel to Singapore
- Climate change, what we can do to reduce effects of global warming
- Pet-Friendly Restaurants in Myrtle Beach
- How to find windshields for your European vintage/classic car
- 4 Creative Ways To Enjoy Your Kitchen
- Do You Really Know About Bisexuality? – Break the Rumors
- Will Remote Working Become the Norm after COVID-19?
- Staying Healthy During Cold and Flu Season: Tips and Tricks for Nurses
- 3 Crucial Elements for Successful Facebook Ads Campaign
- How Do You Turn Customers Into Brand Advocates?
- Does Vaping Keep You Awake?
- What Are the Few Things You Will Need to Know About Child Custody in a Separation
- How to choose a Marketing Strategy for any Marketing Campaign?
- Fun Self-Care Tips for Rheumatoid Arthritis
- Collateralizing and Resolving America’s 2020 Economic Crisis!
- Hair packaging boxes Available in All Sizes & Shapes
- Types of Fencing for Your Farm
- Will Power Washing Kill Plants?
- How Porta-Potties Help the Environment
- Why use SEO for Your Business?
- Restoring Faded Gutters 101
- Gutter Repair Tips