As an entrepreneur, you know the drive and the passion you have for business. And when it comes to becoming a business owner, you’re sure that’s the path you wish to take. However, with that path comes the choice of buying an established business or starting your own. There are pros and cons to each, but for many people, the pros are identified firmly within the buying side. Here’s an illustration of why buying an established business is the right choice.
Speaking of revenue, startups have a necessary ramp up period before revenue can be recognized. And even when revenue starts accruing, it can still take more time for it to be recognized as profit for you, or your investors. An established business will fast-track your financial time line.
An established business usually comes with two things: employees and customers or clients. Because you’re buying an established brand, there are people on board who are familiar with company history, goals, and processes. Even if there is much to be done to restructure or align as you take over, it helps the transition by utilizing the existing infrastructure. Conduct due diligence where your team of trained employees are concerned to determine strengths, hierarchy, and opportunities for growth.
If you’re buying an established business, its clients and customers are part of the transition, too. Less of your marketing strategy has to be focused on finding these individuals if this is the path you take. Be upfront with the people who already buy or benefit from your company, and conduct research on their needs, buying habits, and brand loyalty.
Two (2) Well established Convenience Stores in West Central Minnesota includes ~2200 square ft store on Highway/City lot and ~1800 square ft store on Highway/City. Stores are 17 miles apart. View Listing
This company’s established product lines provide simple solutions to solve cord and cable storage needs. Over 50,000 units have been sold to contractors and tradesmen, utilities, law enforcement, military, fire departments, farms, homes, and industry. View Listing
This long established and consistently profitable electrical contractor serves the residential and commercial segments with electrical expertise in new construction, remodel, and repair service. It has been consistently, fully staffed with long tenured master and journeyman certified electricians, as well as apprentices. View Listing
Here is a chance to add a new product line to your food business. This established, healthy snack product has been developed, complete with marketing channels, and the brand is ripe for the successful buyer to grow. View Listing