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moto-m
04-14-2006, 07:25 PM
I am looking into purchasing a business, preferably something turnkey that can immediately provide some cash flow. I am in my early twenties with a good job that I have had for a little over a year, but I have a bad case of the entrepreneurial bug. Everyday is a struggle. I am thinking about approaching a business broker, but I have never had any experience doing this and am a little concerned about what to expect, mainly that they may not feel that I am in a good enough financial situation. Don't get me wrong, I have a great credit score, recently purchased a home, and am very frugal, yet I don't have a huge sum of money for a downpayment. I know that I can raise the money (looking for a business in the range of $100,000-$300,000) through contacts and loans, but I am not sure if they will take me seriously.

Is my concern warranted? Thanks for everyone's advice.

RMMarketer
04-17-2006, 03:17 PM
You will only find out if you actually speak with a broker. They are experienced in the matters and would be able to answer your questions before you actually sign any paperwork so what have you got to lose?

oregano
01-24-2014, 06:13 AM
Before you make a substantial investment in any business you need to be very clear about the type of business you want to operate, and be sure that you have the skills and experience you need to make the best possible go of it. You're still quite young and have only been in your job about a year (although perhaps you have other work experience too), so it might in fact be better for you to gain some experience in this job - or in a different one - before you start borrowing money and trying to run your own show.

Remember that, in addition to the purchase price, you will need to find the money to cover operating costs for some time - and all the figures will depend on the kind of business you see yourself acquiring, of course. Also, a bank is unlikely to lend money to an unproven business operator, and other financing can be quite tricky these days too, unless you're a whizkid with incredible contacts - and even then...

Of course, you don't have anything to lose by talking to a business broker - in fact it could be quite helpful if you can find one that will give you an honest assessment of the market, including what kinds of businesses are likely to be successful today in your region.

foduu1
03-05-2014, 05:15 AM
Certainly, you don't own whatever to forfeit by simply actually talking to a small business dealer : in reality it would be quite useful if you possibly could locate one who provides you with an honest examination from the industry, as well as what sorts of organizations could be profitable these days within your area.

stockbrokers
09-04-2014, 02:59 AM
yes i am complete agreed with origano. if you don't have anything to lose by talking to a business broker in fact it could be quite helpful if you can find one that will give you an honest assessment of the market, including what kinds of businesses are likely to be successful today in your region. discussions with the others are always give information.

Cardenaslucyy2
03-08-2016, 10:44 AM
discussions is good but its valuable

business444
09-26-2018, 07:16 AM
it is a new idea for me. i will surely try for this idea. ?I appreciated for your post. Your thinking are very great.thanbk you so much

rebeccasexy
09-08-2019, 11:54 PM
actually not spit out the prospect of profit. But it also explains the potential losses that will be suffered. REMEMBER there is always a POTENTIAL for losses in every business that we build. therefore, explain in detail what potential you can experience. The goal is clear, so that all management can provide anticipation of the potential loss.

camili
09-09-2020, 06:01 AM
1. Startup and Entrepreneurial Magazines and yolofame (https://yolofame.com/) Websites

I think it is significant that you get some broad thoughts on where to begin a business and what sorts of organizations you can begin. A decent spot that has some data is a business visionary magazine or private company new companies or establishment magazines. This has an assortment of articles on a portion of the experience and difficulties individuals face in these enterprises. All the more significantly what organizations you could begin and current patterns that are occurring that have more business to create are right now needed by buyers.

Lilykevin86
05-22-2021, 12:27 AM
In the event that you employ an agent that doesn't have experience selling a business comparative This "toss it against the divider and see what sticks" approach isn't.