Key factors

July 29, 2018

6 Factors in Taking Over an Existing Business

If you think you have the chops to be an entrepreneur, but would rather not start with a new idea — or just plain don’t have a new idea worth starting — you may be a great candidate to buy an existing business instead. While buying an existing business typically involves more upfront cost, it also presents less risk than starting from scratch. Financially, you’re looking at actual profit and loss records rather than rough estimates, and there’s a clear history of sales to point to. You may also acquire valuable patents or copyrights, or have the opportunity to drive a stagnant business in an exciting direction with your expertise. Why founders sell businesses It’s a common misconception — a cultural stigma, even […]