The one common denominator that most millionaires have is that they own their own business. Owning your own business can be a very financially rewarding experience. The thrill of being the boss and having complete control over your own destiny are the primary reasons people leave the work force to operate their own company. Owning …
Caveat Entrepreneur Emptor – Let the Business Owner Beware Whether you are buying an existing business, purchasing a franchise, or starting your own enterprise from scratch, it pays to go into the situation with both eyes open and one hand on your wallet. Perhaps you’re interested in building a legacy for your children by leaving …
Before deciding to buy a business, do your homework. Your investigation must begin after drawing up a shortlist of potential businesses to buy. Use the Internet and social media to learn about each business prospect. Pose the following questions to people involved in the same business: Why is the owner selling the business? What is …
It is to the buyer’s advantage to understand the owner of the business for sale. When the seller believes you are the right person to buy the business, he or she will try to make the deal happen even to the extent of structuring the terms to accommodate you. Here are some tips on how …
There are three aspects to coming up with the kind of money it takes to buy a franchise – coughing up the initial franchise fee, finding a place from which to do business, and paying for supplies and inventory. Cheap franchises are an especially hot commodity in a down economy. But don’t be fooled by a low price tag. …