If You Are Thinking About Buying an Existing Business or Starting a New Business, This is a Very Good Time
One, the economy is definitely on the upswing, albeit slowly. Slow or not, the improving economy is good news for the new business owner, regardless of whether you have a start-up or an existing business to manage. Sales volume invariably minimizes the impact of any mistakes you make while learning the ropes.
Two, there is a demographic trend towards urban living that can only help small business owners. Having a hardware store on the corner in a city that people can walk to is a better business proposition than having a hardware store in the exurbs that someone has to drive to that is also near a Wal-Mart that someone can drive to. The same premise goes for a bakery in a city as opposed to a bakery shop in the suburbs that has to compete with a Safeway or Publix grocery store.
Three, lots of baby boomers that own existing businesses are retiring, increasing the amount of businesses that are for sale. These are frequently attractive business opportunities.
Four, even though the economy is improving, many small business owners are so exhausted (emotionally and financially) after the Great Recession, they are willing to sell their business and be done with it. Perfectly viable businesses that just need a new owner, one that’s not beaten down and demoralized.
So, if you’ve been thinking about being your own boss, this is a great time to take the plunge and do it. And if you decide to do that, it’s worth mentioning that we can help with every part of that process – a business plan, the purchase, the legal structure of the company, sales and marketing, accounting and bookkeeping, minimizing your tax burden, and many, many other things. You don’t have to go it alone, because Sareen and Associates can help.
Seize the moment!