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    Approaching a Business Broker
    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.


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    Re: Approaching a Business Broker
    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?


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    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.


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    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.


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    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.


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    discussions is good but its valuable


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