Check Out "Buying An Established Business"

Check out this great article by The Wall Street Journal... it aptly summarizes the reasons that purchasing an existing business is sometimes better...

By: Sarah E. Needleman
July 31, 2011
Accidential Entrepreneur, WSJ.com

Last year, Mark Shelstad set to become his own boss after concluding that his portfolio-manager job had become unstable. But instead of trying to build a company from the ground up, the Chicago-area resident began searching for an existing one he could buy.

"I didn't have a creative idea worthy of starting a business from scratch," says Mr. Shelstad, who is in his mid-50s. Also, "I wanted to get up and running quickly due to my age."

After a few months of research and negotiations, Mr. Shelstad earlier this month purchased a 23-year-old lending-fraud investigation firm, which he renamed Armitage Investigative Services. He used a combination of personal savings and a five-year loan form the seller to cover the purchase price of more than $1 million.
If you're interested in entrepreneurship, but lack ideas or time to create a new business, buying an established company may be a wise alternative. You'll inherit a working infrastructure complete with resources you'd otherwise have to secure on your own, such as equipment and employees. You'll also ideally be taking over a known brand built on a positive reputation over many year's time.

To read the full article... click here.

Check out... Former executives want to be their own boss

Laid-off office workers tired of rat race; seeking their own businesses with $100,000-plus income.

by Tanya Mannes
October 12, 2010
San Diego Union Tribune

As high-level corporate jobs dry up, some executives are embracing the idea of trading rush-hour traffic and hectic schedules - as well as steady paychecks - for a chance to be their own boss.

The economic collapse has eliminated millions of jobs, slashed pension programs and gutted home equity and stock portfolios, making the idea of self-reliance more attractive.

Peter Siegel, founder and chief executive of BizBen.com, a California business-for-sale website, is seeing a surge of former executives - many in their 40s, 50s and 60s - seeking a business with an adjusted net income of $100,000 or more.

To read the full article... click here.

Buying a Business: 5 Things You Need to Know

Buying a existing business can be easier than starting one from scratch. How to find the right opportunity, raise enough money, and get a good price.

By Darren Dahl
With increasing signs that the economy is improving, and the credit markets beginning to loosen up again, the business-for-sale market is sure to see an uptick. In fact, the number of businesses sold during the first quarter of 2010 rose 6.3 percent over the fourth quarter of last year, according to BizBuySell, an online marketplace for business postings. Sometimes, buying an existing business can be a lot easier than starting one from scratch. What are the best ways to get started? Here are five things you need to know.

1. Know what kind of business is right for you.
2. Line up your financing ahead of time.
3. Assemble a team of professionals.
4. Place a value on the business.
5. Start looking and spread the word.

To read the full article click here...

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