By Scott Radin, Owner & Founder of the North American of Business Brokers and A.S. Radin & Associates.
Unfortunately, finding that “perfect Business” is a fairy tale. There is no “perfect Business for sale” – and don’t let Business brokers or sellers tell you that it is the perfect Business for you. That’s why 85% of all Business buyers end up purchasing something other than that Business for sale in which they were originally interested in. All Business buyers have a general idea on what they want or need but these general road maps are littered with potholes and detours. It’s best for you to accept the fact that the “perfect Business” and the Business for sale that you buy will be different.
We are not saying that if you want a Laundromat you will never get a Laundromat – rather we are saying is that the dream Laundromat in your mind will never materialize. A Business for sale will never live up to your expectations because it’s human nature to adjust expectations before they are met. If you are too finicky then we can guarantee that you will still be looking 10 years from now.
We recommend that you look at Businesses for sale in areas where you have been qualified – good Business brokers can help in the qualification – and one that interests you and one that you feel you can make money and grow. Instead of finding your dream Business – develop it from an existing qualified Business. This is where Business brokers can help
General Rules Of Thumb…
- Write your needs and wants
- Determine if you want employees
- Determine how many hours per week you want to work
- Determine how much you want to make from the Business per year
- Determine areas where you have extensive experience
- Determine if you want to manage or have a manager in place
- Do you want a “cash” type Business
- Do you want a strictly invoice – check type of Business