The Business of Buying a Business - Experts Weigh In On What It Takes To Succeed
Released on = January 16, 2007, 10:39 am
Press Release Author = Evan Carmichael Communications Group
Industry = Small Business
Press Release Summary = Look up the word 'entrepreneur' in almost any dictionary and you are bound to come across the word 'risk'. Entrepreneurship is, by definition, a risky business. The stakes are high and the security is low. However, an increasing number of entrepreneurs are discovering one way to reduce that risk; they're buying existing businesses that have already proven themselves out in the real world.
Press Release Body = January 16, 2007 (Toronto, CA) -- Look up the word 'entrepreneur' in almost any dictionary and you are bound to come across the word 'risk'. Entrepreneurship is, by definition, a risky business. The stakes are high and the security is low. However, an increasing number of entrepreneurs are discovering one way to reduce that risk; they're buying existing businesses that have already proven themselves out in the real world.
No venture is ever without its gambles, but buying a business that is already in operation is proving to be a safer and more desirable choice than starting from scratch for many entrepreneurs. The advantages of such a move are plenty, from having a good location and a generated cash flow, to already established markets and relationships with suppliers and banks. However, buying a business can also have its disadvantages; equipment may be obsolete, the location may be poor, or there might be little potential for growth. How can you determine if buying a business is right for you, and if so, which business?