Have you dreamed of being your own boss? Do you wish you were the one making the big bucks and calling the shots instead of toiling away in cubicle hell? Maybe you have considered becoming an entrepreneur but figured it is too risky or that it will take too long to get a new business off the ground. Well there is a way to become an instant entrepreneur. All you have to do is buy an existing business. Yes it’s that simple.
Experience shows that most new enterprises don’t make a profit during their first two years of operation. During that time the owner absorbs the cost of leasehold improvements, acquiring furniture, fixtures, tools and equipment. There are staff to be hired and trained. Marketing costs accumulate as the business attempts to establish its name in the marketplace.
But it could be so much easier. Buy an existing business. Instead of the massive start up costs – you walk in the door and everything is in place. Don’t worry about hiring the right employees you already have them. Customers and vendors know where to find you.
Don’t have quite enough money to buy a business? An existing business with a good track record and solid books may well qualify for a SBA loan with a small down payment. If it doesn’t then the seller may be willing to partially finance it for you. Still need money? Consider borrowing from yourself. ERISA rules allow you to invest your 401K retirement account in a business you start or buy.
Close on your business purchase and you become an instant entrepreneur. From day one you have positive cash flow. The heavy lifting was done for you. Now all you have to do is reap the rewards. If you are ready to take the plunge call your local friendly business broker today. We are ready to help. Your future starts today!
Anthony John Rigney is a Florida based Business Broker with Quorum Business Advisors, LLC. Whether your goal is to buy a business or sell your business Anthony can help. Call today at 904-725-7677 for a free consultation.