Owning a business is often equated with achievement of the American Dream. Financial independence, control and job security often come to mind. The reality is that owning and operating your own business will require a significant personal and financial commitment especially if you build it from the ground up.

Fortunately, not every business has to be started from scratch. In fact, the purchase of an existing, profitable business can be a great alternative to a start-up and allow you to leap-frog some of the start-up challenges as existing businesses often have built-in benefits such as:

Experienced and knowledgeable employees are already in place.

Vendor/supplier relationships are already established.

Proven marketing/operating systems/procedures are already in place.

There is an existing history of financial performance to base your future assumptions on.

There is an existing, verifiable cash flow.

The previous owner will often include training as part of the sale price.

Seller financing is often available.

There is an existing customer database that can be mined in ways that the previous owner may have never considered.

Confidentiality

Unlike the sale of real estate, the sale of a business is extremely confidential for both the buyer and the seller. To protect each party and the assets they still control (employees, customers, jobs, etc.), each meeting, each transfer of information and each contact are held in strict confidence. We ask that all prospective buyers sign Confidentiality Agreements prior to any information disclosure to protect all parties involved. We take one of the most important decisions of your life as seriously as you do.

Pre-Qualification

Purchasing a business can require significant financial resources. Even with seller and bank financing, there can still be certain equity and net worth requirements necessary to close. By collecting a personal financial statement from each prospective buyer, our team of professional business advisors can assist a buyer in determining their true purchasing power and direct him/her to the universe of businesses that best matches their financial/personal profile. At Spectrum Business Advisors, we endeavor to bring immediate value to every client by saving them time.

The Next Step

Most start-up businesses typically fail within the first 3-5 years of operation with the success rate going up dramatically after the 3-5 year benchmark has been passed.

What better way to increase your likelihood of success then to purchase an existing business that has already passed the tough start-up period? Contact Spectrum Business Advisors today and begin to research the greatest investment you can make: An investment in yourself.