Starting vs Buying a Business
Why Buy a Business Instead of Starting One?
Hey there, Adam! You know, I’ve danced around the idea of starting a business in my 20s and 30s. Here’s the kicker: I kept hitting walls. We all dream of being that iconic entrepreneur, but let’s face it, the odds are like Han Solo navigating an asteroid field. Only a small sliver of startups make it big. The numbers? Even tinier than you’d think.
So, while reading some eye-opening books, I realized something: 96% of U.S. companies never hit a million in revenue. Mind-blowing, right? Most of us aren’t Musk or Jobs. We’re more like, “Hey, I can do this job and get paid for it!” And you know what? Buying a business that’s already rolling is like finding a golden ticket. It’s got the revenue, the infrastructure, and the team. It’s like skipping to the good part in a movie!
So, where is the best place to find Businesses for Sale?
A few years ago it would have been in Dalton’s or places like Craigslist, however online now brings you the chance to look all over the world for Businesses for Sale, take a look here: World Busines for Sale
Discovering the Right Fit for You
Adam, you might say, “Okay, I’m sold on buying a biz. But how do I know which one?” Well, it’s all about looking in the mirror first. What’s your jam? What gets you pumped to get out of bed? Buying a bike shop sounds cool if you’re a cyclist, but fixing bikes all day? Not so much.
Think about where you wanna be every day. Are you cool with a quiet business park or do you need the hustle and bustle of a city vibe? Knowing yourself is key. Otherwise, it’s like wandering in Wonderland without a map. And trust me, you want a map.
Money Talk: Getting Pre-Qualified
Let’s chat dough. You need it to make the dream work, right? First, get your financial ducks in a row. Your personal balance sheet should shine. Dust off that resume too, make it sing. Then, hit up the SBA for a pre-qualification letter.
With your funding sorted, brokers will take you seriously. Show them you’re ready to roll, and they’ll flood your inbox with opportunities. Buying a business isn’t like picking up milk at the store. It’s more of a treasure hunt, but with the right prep, you’ll find your gold.
So, Adam, ready to dive into this adventure? Let’s make some magic happen!
