Buying a business in Austin
- Buying a business is serious business. It is a vital step to achieving your dreams. Owning a successful business not only brings a sense of accomplishment, it enhances all aspects of one's life. If you are considering to go into business for yourself for the first time, planning ahead and setting goals is paramount.
- Start from scratch or buy an existing business? Although the experience of building something from scratch is a unique journey, in most instances buying an existing business is a better path to take if you want to reach your goals faster.
- What kind of business? Just because a business for sale is healthy, it may not be the right business for you. On the other hand if a business for sale is doing poorly, it may be the perfect opportunity for a qualified person who is well equipped with the right knowledge and innovative ideas. Therefore the best business for you to buy is the one where your experience is, and where your talents will excel and the one that will compliment your lifestyle.
- Why Austin Business Brokers℠? As an experienced specialist, an agent at Austin Business Brokers, Inc. will help you get the maximum information you need about the business you wish to explore. Any ethical broker will caution you if you are overlooking some vital aspect of the process. A Broker will walk you though the process of procuring a business, making you aware with all requirements, and letting you conduct your due diligence independently.
- As a first time Buyer, you should evaluate the business according to the Risk and Return on your Investment.
- There are substantial costs besides the 'Purchase Price' of the business, but getting caught up in the excitement of the transaction, that's something most buyers overlook. Have plenty of reserves to cover those initial costs, cost of goods, overheads, payroll, vendors etc. and an occasional poor sales month. As a general rule, having 25% of the annual sales (3 months average) as working capital is the minimum cash you should have after paying for the procurement of the business.
- Before buying a business, you must honestly evaluate if "You can" (have the skills specific to the business) and if "You will" (have the dedication to put in the time required by the business) A broker will guide you though all the steps, that most individuals may not be aware of. So when you are close to realizing your dream, it is advisable to lean on an expert to secure that opportunity, rather than going it alone and risking a long lingering mistake. Call us today and find out why having Austin Business Brokers℠ on your side is to your advantage.
For more information, visit our Buyer Frequently Asked Questions page or contact us for a free consultation.