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Do You Dream Of Owning Your Own Business?
Are you interested in becoming a business owner? There are numerous motivations for acquiring a business, and sometimes, the price isn’t the primary factor. Perhaps it’s about aligning your time commitments with your core values, or maybe it’s a way to invest your money with greater control over returns. It could even be as straightforward as creating employment opportunities for yourself and others. As you embark on this journey, it’s crucial to establish a strong support network and seek guidance from experienced business advisors.
Now, let’s consider whether you’d prefer to purchase an established business or a new franchise location. Generally, buying an existing business has the advantage of being fully operational from day one, often with existing operations and trained staff in place. You can also base your future projections on its historical performance.
On the other hand, starting a new franchise location may take some time to become cash flow positive. It offers the unique experience of building a business from the ground up, training staff, and infusing your personal touch into the operation. However, it’s essential to be comfortable operating within the guidelines set by the franchisor.
To make an informed decision, it’s crucial to evaluate your specific requirements and goals, which may include factors like income needs, financial capabilities, time constraints, geographic preferences, and your level of hands-on involvement. Consider your timeline for acquisition and assemble a team of advisors to guide you through the process.
HERE'S A BREAKDOWN OF THE STEPS INVOLVED:
INITIAL CONSULTATION
This is the stage where you define what you want from business ownership.
REAL ESTATE STRATEGY
Determine your approach to real estate. Do you aim to own the property, focus on leasing a facility, or explore opportunities for value addition in the real estate associated with a business for sale?
BUYING A BUSINESS
This is when you actively search for the right match. We will assist you by identifying both on and off-market opportunities, helping you screen potential businesses, facilitating negotiations with sellers, overseeing due diligence processes, and coordinating the closing activities involving all parties in the purchase.