Buying A Business

Is it Better to Start Your Own Business or Buy an Existing One?

According to the Small Business Administration (SBA), about 90% of new businesses fail within the first year. These figures show how difficult it is to set up a business from scratch. However, whether you decide to start your own company or purchase an existing one, each alternative has its own set of advantages and disadvantages. There are a number of factors that you … [Read more...]

Breaking into Entrepreneurism: Should You Buy or Build Your First Business?

Students and aspiring entrepreneurs often ask me whether it’s better to start a business from scratch or to buy an existing one. My answer is always “Both!” As a business owner, I’ve launched companies both ways — and many other ways in between — over the years. Let’s examine how to initiate business ownership so that you can learn from my experience and make better … [Read more...]

Why You Should Buy a Pharmacy Business

Investors are always looking for where to put their money so it's the most productive, but investing in a business isn't something that's on all their minds. However, businesses are one of the best things you can own if you're interested in revenue. Owning a pharmacy is a great way to boost your yearly revenue without doing much else. Here are a few reasons why you should … [Read more...]

3 Benefits of Utilizing a Business Broker

Whether you’re selling your business, or you’re planning to buy a business, working with a broker can be invaluable. Business brokers can help you sell your business faster if you’re an owner, and they can connect you with a business that’s well-suited to your budget and your needs if you’re a buyer. Whether you’re buying or selling, it’s a big decision and in the case of … [Read more...]

Don’t Forget These Things When Buying a Business

Do you have your eyes on a business for sale? You’ll need to do your due diligence, meaning your research process needs to be very thorough. In evaluating any business for sale in Miami you’ll need to check its financial statements, the overall economic stability in the industry, the asking price, among other things. However, despite this analysis, there are some areas that … [Read more...]

7 Most Common Slip-Ups Made When Buying a Business

Having your own company can be a financially rewarding experience. The thrill of running your own business and being your own boss without having to answer to anyone is one of the many reasons why people opt to leave the workforce and start their own companies. Running your own company can be a blessing, but it can also be a nightmare for you if you make mistakes. These … [Read more...]

Could These Be the 8 Worst Business Decisions Ever Made?

It’s never easy to be faced with the prospect of selling your business, expanding it by acquiring another one, or signing a huge business deal. The decision you make could make you successful beyond your wildest dreams, or it could turn out to be the worst mistake of your life, financially speaking. The following infographic, produced by Betway Casino, highlights some of the … [Read more...]

Smooth Transition: How to Buy a Business and Keep the Existing Employees

When you buy an existing business, as well as taking on the running of the operation, you may also find yourself with a whole new set of employees. If you wish to keep on the existing staff – and you are usually under no obligation to do so – the changeover process must be handled delicately. A business takeover is a stressful time for employees, and on top of that, there are … [Read more...]

Buying a Business: Forget Trust – Understand Due Diligence

According to the U.S. Bureau of Labor Statistics, over 50% of start-up businesses fail within five years. This is a staggering statistic and one that should bring concern to anyone seeking to start a new business venture. An alternative to starting a new business is to purchase an existing establishment. This option, if all goes right, can significantly decrease the risk … [Read more...]

Transitioning a Family Business: How to Do It and Keep the Family Intact

Statistics compiled by Johnson Cornell University tell us that 40 percent of all U.S.-based family businesses, of which there are approximately 5.5 million, are passed down to the next generation. From there, about 13 percent keep their doors open long enough to be transferred to the third generation, and a mere 3 percent are ever held in the fourth generation’s hands. While … [Read more...]