subject: Buying an Established Business – Steps for finding the correct established businesses Part 2 [print this page] Buying an Established Business Steps for finding the correct established businesses Part 2
Nerves and buying an established business - Are you a very first time small business buyer?
It really is quite normal for first time business buyers to start feeling overwhelmed plus somewhat hesitant about taking such a big step. If this is the case you might be more comfortable looking into at a franchise. It is not unusual for first time business buyers to feel that buying a franchise reduces the risk and offers them security in way of support from the franchisor
Discover hundreds of different types of establishments available for sale
As we mentioned Small business buying and selling websites are popping up all the time, which is excellent for you. There are various sites to look at. Here are a couple of tips to assist you research:
- Use a search engine like Google and make certain you are 'Googling' inside Google website associated with the country you are researching. e.g. http://www.google.com.au (Australia). This will show your local country pages very first, making it easier to get to where you want fast
- If you tend not to know what category of business you would like to buy, just search for businesses available for sale inside the geographical location of choice
- If you possess a clear notion around the type of business you would like to get, simply enter the exact business category for sale and the geographical region
- Make sure you do not miss the Businesses For Sale by Owner'web-sites - Google shows a substantial list of them, our research indicates that more than 30% of the small businesses listed are available for sale by the owner - you may well see the abbreviation FSBO or DIY, so ensure you Google' the abbreviation.
A lot of smart business owners are now acquiring all of the skills and education they need to successfully sell their business without the need of a business broker. This could be a huge benefit to you as the buyer.
Purchasing a suitable business successfully is quite straight forward, especially when you know what questions to ask and have a good understanding of the business buying pitfalls to avoid.
It is especially important to ensure you educate yourself with the correct information from those who are experience and you trust because, in most cases, the business broker is working in favour of the seller. It is possible to be one step ahead at all times armed with all you need to know plus tools to help you accurately value the business yourself.
