Andy Anderson

Andy Anderson

It seems as if there’s a silver lining amidst all the scary economic news.  Surprisingly, this is a terrific time to become an entrepreneur.  Businesses are priced right and are often available at bargain prices with seller-assisted financing.  But many people don’t have experience negotiating a deal, and they need help buying a small business.  Where can you go to start learning about business ownership?  There are numerous websites devoted to entrepreneurship, but the best ones feature a directory of existing businesses for sale.

Friday, 25 May 2012 02:48

Best Ideas for Buying a Business

Are you frustrated with the corporate world?  Worried about job security?  Perhaps you are an entrepreneur looking for ideas for buying a business.  Whether you want to start your own company or buy someone else’s, the toughest part is often choosing a business model.

There are plenty of websites that will help you with ideas for buying a business, but the selection you make will depend a lot on your personal goals.  For example, do you want to become a billionaire in your lifetime?  Are you looking for a family business that can be passed along to your kids?  Will you be using the income from this business to supplement your retirement income?  How much time do you expect to spend working at the business?

In demand businesses are partially determined by your location. Different markets vary from state to state; however, there are some prominent small businesses that stay strong in the ranking for hot businesses.

Monday, 14 May 2012 12:26

5 Tips for Buying a Small Business

If you’ve ever considered owning and managing your own business, you may have also realized how risky it can be.  Many small business owners found the economy too challenging over the past few years and decided to give it up for more profitable ventures, but that hasn’t deterred budding entrepreneurs from buying a small business.  In fact, many believe that now is the best time to invest in existing businesses.  If you ask a business broker or veteran entrepreneur to give you tips for buying a small business, the answers you get will be all across the board, but here are my top five -

In an online column published earlier this month in Entrepreneur’s Daily Dose, Catherine Clifford reports that the one of the unsung business success stories is the contribution of small businesses.  While larger companies continue to hire at a very slow pace, small businesses account for nearly 97 percent of all private sector hiring.

Looking at the jobs report for April 2012, the overall number of private sector jobs went down since March, but only 4,000 of the 119,000 jobs added in April were at large businesses.  A large business is defined as a company with at least 500 employees.  Compared to the 58,000 jobs added by small businesses in the same month, it’s clear that small business success is contagious.  Medium-sized businesses were a large part of this number as well, adding 57,000 jobs during the month of April.

It’s nice to know that almost anything can be bought and sold online these days.  Web sites like Ebay and Amazon have made it possible for people to earn a living by simply buying low and selling higher.  But when it comes to selling a business, most people cannot imagine how that would be done online.  Businesses have real property, competitors, leases, contracts, employees and more.  They may have vehicles, warehouses and complicated debt.  But in today’s fast-paced world it is possible to buy and sell a business online.

Whether they plan to go through a business broker or sell the business on their own, small business owners are starting the sales process by posting a listing in a business opportunities directory.  These online directories can be local or national in scope, and generally allow visitors to search for businesses by state, industry and price range.  Many sellers wonder if it matters which business directory they are in, and I always tell them to look for the directories that come to the top of the Google search rankings.  The better optimized the site is, the more likely your listing will be seen when people search by keyword.

Tuesday, 17 April 2012 01:53

Need to Sell a Business? Read This.

Every time a business owner decides to cash out or retire, the same questions inevitably arise.  Reading the FAQ section on a business directory is often the best way to get the intelligence you need to sell a business; but keep in mind that every transfer of ownership is unique.  Therefore, the most important questions you ask will be those that you ask yourself.  Before you embark on the sale of your business, ask yourself the following questions.

Are you ready to sell your business?

Even when it makes good financial sense to sell your company, you may not be emotionally ready for the sale.  Ask yourself what you will do with your time after the business is sold.  Are you sure you will not have “seller’s remorse” when handing the keys to the new owner?

Saturday, 07 April 2012 13:30

Buy a Business Online or Start Your Own?

At some point or another, almost everyone experiences some type of career burnout.  Either you are in the wrong career and it’s wearing you down or you need more time to enjoy your family, but you may have been bitten by the “entrepreneurial bug.”  Before you go out and buy a business online or try to start one yourself, there is a lot to be learned about business ownership.

Sunday, 25 March 2012 14:25

How to Find Businesses for Sale by State

It used to be that if you wanted to find businesses for sale by state you would need to search through the newspaper classified sections in a local library.  Thankfully, today’s entrepreneurs can rely on Internet business directories that list businesses “for sale by owner.”  Now, in addition to finding out about existing businesses for sale by industry, one can search by zip code, city or state.  If you’ve never searched for a business this way, the first experience with it might be overwhelming.  Most prospective buyers are amazed at the number of listings in their area.

Unfortunately, buying a business isn’t as simple as perusing the business listings and finding the one you like best.  It is a long and arduous process that requires a thorough investigation of financials, including an inspection of the premises, interviews with employees and an assessment of business assets.  Any experienced entrepreneur will tell you how important it is to do your due diligence when acquiring an existing business.

If you aren’t working with a business broker, then the process of vetting an existing business may become a long process.  Brokers offer valuable experience with business valuation and industry expertise, which could help you establish whether a business is a worthwhile investment.

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