You may know that you want to own a business, but it’s important to think very carefully before starting your own business from scratch. It’s well known that most new businesses fail (70% by the 10th year,) so it’s often the better decision to buy a company instead of starting your own. Continue reading to learn about five benefits of buying an existing business.
As a business owner, your main goal is to make money, and buying an existing business is the best way to ensure you quickly earn good money. Buying a business is a great investment and can help you reach financial freedom. After purchasing the company, you can spend the time to work on growing your business and increasing your existing profits.
A business needs a strong foundation to survive, and between operating policies, procedures, employees, and loyal customers, it takes years for a new business to become established. However, buying an existing business means that you’re buying a fully operational system with all of the ground work completed.
Buy Without Using Your Own Money
Did you know that you may not need your own money to pay for an existing business? There are many strategies that allow buyers to purchase a business without using their own money, such as making the seller part of the deal. In some cases, you can negotiate with the seller to pay them a certain amount of the business’s profits per month until the balance is paid off.
All business owners want to ensure that the company they buy will be profitable and successful for years to come. The way you can make sure of this is to choose a business from sectors that are “recession-proof.” These businesses are not affected during an economic depression, as they provide products and services that the public need, rather than want.
Great Businesses On The Market
You may think that any businesses up for sale are not worth the purchase, but this couldn’t be further from the truth! In fact, most businesses on the market are very successful, but the owners are ready to retire or move on to a different venture. Sellers are looking for great, reliable buyers who will put in the work to ensure their business remains successful for years to come.
Buying With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.