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Buying a Business - What Does
Main Street Broker Offer You? |
| Security |
| A big advantage in buying an ongoing business is that
you, as the new owner, have an immediate cash flow and
an established customer base. You don't have to build
a business; you simply take over an existing successful
business with the present owner's assistance. |
| Financing |
| Main Street will assist you in obtaining financing.
Generally, banks are reluctant to finance business purchases
for several reasons. First, all small businesses attempt
to minimize profits shown on financial statements to reduce
tax liability. Also, a bank cannot manage a business if
foreclosure becomes necessary. Therefore, over ninety
percent of business purchases are financed by the owners,
which demonstrates their confidence in the business. |
| Confidentiality |
| Unlike the sale of real estate or franchises, the sale
of an ongoing business is very confidential for both the
seller and the prospective buyer. All inquiries are held
in strict confidence. Meetings are confidential, and we
are available after hours and on weekends. |
| Things a Business Buyer Should Know |
| At Main Street, we are advocates of finding a business
that you like and would feel comfortable managing. You,
like every other prospective buyer, have a vision of being
your own boss and calling your own shots. A business must
fit your visions to be successful.
An old saying in the real estate industry is..."The
three most important things a buyer should look for
are location, location and location." While location
is important to a business buyer, be aware that track
record and management round out the three components
of a successful business.
Let's assume that you find a business that you like
and its location is fine. But, because of poor management,
the business may not show the greatest track record.
Purchased for the right price and on the right terms,
this business could become more successful with proper
management, making it a good way to achieve your vision
of being in business for yourself.
As a prospective business buyer, you will be concerned
as to why the business owner is selling the business.
Business owners sell for a variety of honest reasons.
Besides the obvious reasons of retirement, bad health
or re-location, many sellers simply tire of doing the
same thing and want to move on. If it is a good business
for you, the reason for the sale doesn't matter.
Finally, be aware that many businesses sell for less
than what they are listed for. So, if its a business
you like, don't be afraid to make a low offer. As long
as you truely feel your offer is reasonable and fair,
we'll be glad to communicate it to the seller.
Remember, your Main Street Broker is a well trained
professional who knows how to buy a business. Do utilize
your brokers talents and call your broker whenever you
need assistance or have questions about the process.
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Fill out a Buyers Application today to get started
on your search for a great business
Buyers Application |
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