The Road Taken - Why Buying A Business May Make Sense
Many of my clients are looking for a business because they are at a crossroads and a move to the sun-kissed Palm Springs area is appealing. Consider that in order to earn a living you must find a job, start a business, or buy an existing business. Of course, helping someone to buy an existing business is what I would encourage for several reasons.
For one thing, high paying jobs are scarce in the desert, just check out the help wanted ads in the Desert Sun newspaper.
Second, to start a new business from scratch is a huge and lengthy challenge. It takes a lot of money and you must invest time, energy and often more money dealing with all the government agencies; city, state and the health department. If a restaurant, nightclub, bar, liquor store, or any business that involves alcohol is what you have in mind; dealing with ABC will also be required.
The third option available to you is to find a business that is already up and operating with a proven track record, just waiting on a new owner to take it to the next level. Often, when someone has owned a business for a time they tend to get "tired eyes." It seems they have already tried everything in the book and end up set in their ways. New owners tend to come in with their own personal experience and network of contacts. They propose dynamic marketing strategies; consider remodeling ideas, and generally, reenergize the entire operation. More often than not, the result of their efforts is a dramatic spike in revenues.
Consider that people sell their businesses for many reasons. Health issues can surface unexpectedly. Other times it's simply time to retire or move out of the area to be closer to family. Sometimes, the business owner is just plain tired and wants to make a change, creating an opportunity for a savvy buyer.
In "THE ROAD NOT TAKEN", Robert Frost ponders Somewhere ages and ages hence: Two roads diverged in a wood, and I took the one less traveled by, And that has made all the difference.
Owning your own business provides you with personal freedom and the opportunity to realize the rewards of your extra efforts. You cannot be downsized. You are the boss and you choose the road that will lead you to the thriving future you envision. Bear in mind, much farther down that road you will be the one with a tangible asset to sell.
About The Author: Bob Hughes is a business broker in the Palm Springs area assisting business buyers and sellers throughout the Inland Empire area. You can reach Bob by phone at 760-323-8311 to discuss buying or selling a business.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Shalonda Chappel: Escrow & Bulk Sale Services - Southern California
Escrow services to brokers/agents, sellers, & buyers. Established 43 years. Extraordinary service. Experienced with handling difficult transactions. One stop for all your escrow needs: Bulk sales, lien searches, UCC searches, liquor license transfers, publishing & recording services. 951-808-3972.
|Diane Boudreau-Tschetter: Escrow & Bulk Sale Services - CA
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
|Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence
Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.
|Helen Yoo, New Century Escrow - Escrow Services In Southern California
New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Rick Carlson, Business Broker - Southern California
You Will Never Feel Lost In The Shuffle. Many Brokers Simply Send Out An NDA And That's The End Of Communication. All Buyers Receive A Personal Meeting With An Ace Acquisition Specialist So They Can Recommend The Perfect Business For You. Phone Rick direct at 800-985-4939.
|Larry Larsen: Laundry Consulting, Brokerage, Insurance
I have over forty years of experience in the sales, ownership, management, and construction of coin laundries. He is a licensed broker active in the sale of coin laundries, a licensed insurance agent specializing in coin laundry insurance. Phone me at 714-630-9274 or 714-630-Wash.
|Brad Steinberg, Business Broker: Laundromat Specialist
PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.
|Steve Zimmerman: Restaurant Broker Specialist, California
Steve founded Restaurant Realty in 1996. He has personally sold/leased over 900 restaurants, bars & clubs, & completed over 3000 valuations. The author of "Restaurant Dealmaker - An Insider's Trade Secrets For Buying a Restaurant, Bar or Club" available on Amazon. Reach Steve direct at 415-945-9701.
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|Thinking About Selling A Small Business? Know These 8 Factors That Matter
The likelihood of selling a business is often determined by external factors in the marketplace. Here are eight influences on how easy, or difficult it might be when selling a small California business. Peter Siegel at 925-785-3118 (BizBen ProSell Program) explains these factors for owner/sellers.
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|Live Workshop: How to Find Profitable Businesses For Sale Not On The Market
Live Workshop For Business Buyers: Find Small Businesses Possible For Sale Not On The Market. This Workshop Is In Southern California. Every Month On Saturdays - 1:30 PM to 4:30 PM. Call 805-428-2063 to RSVP. Willard Michlin, CPA will be presenting this workshop. Click On Link For Schedule & Times.
|Getting An SBA Loan To Buy A Small Business: Dispelling Some Major Myths
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|What Are The Pros And Cons Of Selling A Business For Sale By Owner?
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