Buying the perfect business.
How do you find the perfect business to buy? Well I admit this title was a little misleading. In fact the simple answer is that there are no perfect businesses. Just like the people who create them businesses are imperfect. There are buyers who have spent many years looking for the perfect business. They become confused and disappointed when they don’t find it. One buyer recently told me “Every listing I have looked at has its negatives”. The fact is that if there is ever a perfect one out there, it will get snapped up before you have an opportunity to look at it. So save yourself the time and agony and try instead to find the business that is right for you.
One other thing to keep in mind is that a business’s “negatives” can be “positives” for you. A business that does not have a website for example can only improve by adding this feature.
When evaluating an opportunity use the time honored method of drawing a line down a sheet of paper. Itemize the pros on one side and the cons on the other. When your pros outweigh your cons you might have found the business you should buy.
Anthony John Rigney is a Florida Business Broker and Board Certified Intermediary. He is the owner and founder of Quorum Business Advisors, LLC. Visit him online at www.qbusinessadvisors.com