- Have you ever thought about being your own boss?
- Do you want to create your own financial independence?
- Do you want to make your own dreams a reality?
You’re not alone.
Many people dream about being their own boss. In fact a recent survey highlighted that a whopping 80% of Brits wanted to run their own company. For some that dream can become a reality. But buying a business comes with huge risks. Although being your own boss can be an opportunity too good to turn down, buying a business means serious financial and personal commitment. In order to be a success, you must first understand what makes a business successful.
Our expert advisers are on hand to help you through the mechanics of the deal, making sure you get the correct financial and legal advice. They will also ensure you do your due diligence before putting pen to paper.
Enthusiastic new owners can often get themselves into trouble when starting out with a business venture. Just like a puppy with boundless energy, they may have bags of energy and the best of intentions, but they can quickly be overwhelmed when they are struck by the magnitude of the work in front of them, especially if they are building the business from the ground up.
A recent survey showed that 60% of new start-ups fail within the first three years of business. In contrast, an existing, established business that is bought by a new owner shows a significant lower failure rate.
Are you an entrepreneur?
Attributes that characterise an entrepreneur include:
- Being very independent
- Being a visionary
- Accepting higher risks
Why Buy An Existing Business?
Whether you are looking at buying a café, buying a convenience store or buying a pub or restaurant, getting to grips with a business is crucial in making it a viable success. With the right negotiations, a business can actually pay for itself.
Buying a business with City Business Brokers can provide you with:
- Established credit history and relationships with vendors.
- Trained employees.
- Established customer base and reputation.
- Existing licences and permits.
- Actual operating results, rather than projected results.
- Immediate cash flow from the ongoing business activities.
- Return on investment in one year.
- Training provided by the seller.
- Financing provided by the seller.