Fact: 80% of new businesses fail in the first 3 years!

Fact: Most established businesses continue to be successful!

If you are motivated by personal accomplishment, stimulated by challenge, and want to be your own boss, then business ownership is for you. However, let someone else take the risk and high cost of starting from scratch. Buying an established business provides you with two of the three necessary components of success - a proven location (or customer base) and the right product. You provide the third ingredient - management.

The following are some of the likely advantages of buying an established business versus starting a new one:

The market cannot support another competitor

Can get your new business up and running quickly

A successful business may stay successful while you get up to speed

Your new business may already have the equipment and assets you want

Set-up and installation costs are cheaper or non-existent

The old clientele may well be your new clientele

Get the "best" location or acquire a favorable lease

Expenses and revenues are known

Easier to get licenses and permits

Easier to get loans and other financing

Intangibles: Goodwill / Brand Name

Supplier relationships are established

Trade credit may be established

Inventory is in place

Get key employees on your team

Get trained experienced employees and staff

Prevent competitor from entering area

Little competitive backlash or reaction

May be able to use the experience and advice of the previous owner
 

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