Richard Parker Offers Tips on Purchasing Undervalued Business at a Great Price
Released on: April 28, 2008, 1:26 am
Press Release Author: Success Insiders
Industry: Financial
Press Release Summary: Richard Parker has purchased and sold many businesses. Through his experience, he has developed a program for helping others purchase existing businesses.
Press Release Body: He was recently interviewed by Lance Hood, co-founder of Success Insiders Millionaire's Club. Lance was so impressed with Richard that he made him a featured expert on his membership site at http://www.successinsiders.com/ , where members can log on and ask questions or find out how to attend teleseminars.
The question Lance Hood has is why would a person sell a business if it was doing so well? Richard gave many examples including death, divorce, illness, retirement, boredom or financial strategy. Maybe they've been so successful that they just want to take a break, go on a long vacation, then come back and start something new. There are many valid reasons for selling businesses.
Richard looks for motivated sellers when he's looking to buy a business. Oftentimes, people own a good business, but it's not great. The owner is bored and he lacks the ambition to improve the business and build it into what it could be. The level of motivation of a seller impacts and influences the price to offer. Parker explains other parameters that determine value, including the element of risk involved with the business, the level of profit it brings in, the amount of work it takes to run and the benefits the business offers to customers. Is the business something that is in demand? Or is it something that is becoming obsolete, thus no longer much of a benefit? These are some things to consider when purchasing a business.
Richard suggests finding business for sale on the internet, in classified ads, networking with other business owners and going to seminars and workshops. There are thousands of small businesses in the US; just getting the word out that you are looking to purchase a business is a good way to find motivated sellers looking to sell theirs.
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This Press Release has been submitted by PREasy.com Research, Investment, Buying Business, Business Brokers, Chambers of Commerce, Making Money, Wealth, Business Skills
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