Everyone wants to maximize their time spent on enjoyable activities while minimizing the time spent on drudgery: it’s simply human nature. What do you do if something you deeply desire – being your own boss and owning your own business – is traditionally tied up with tasks you dislike, such as negotiating vendor contracts and hiring a whole new staff? The solution is easy: buy an established business that has a proven track record of success. This prospect is even easier when you work with a business marketplace site, which lists all available businesses in your industry and area, ready for you to take over.
Let’s explore the advantages of purchasing a business, as well as how this goal can be accomplished with even less hassle by using a business marketplace site.
Buying a pre-existing business nets you a faster return on investment
Mark Zweig, a successful entrepreneur and professor at the esteemed Sam M. Walton College of Business at University of Arkansas, explains the numerous benefits of buying a business rather than starting one from scratch. As an entrepreneur, Zweig purchased four different companies and turned them into money-making machines, and also repurchased his own company which had been sold to a private equity firm. He explains that buying a business is much like renovating a home: it can sometimes be easier to fix something with great foundations than starting from scratch.
One of the most important reasons for this is that with an existing business, you will have a cash flow right from day one, rather than spending years planning for profitability that may never come. This is obviously a great way to get a fast return on investment, and it means that you can pour your capital into improvements and advancements rather than the most basic nuts-and-bolts of building a business.
You can capitalize on new trends rather than focusing on foundational aspects of a business
The business world moves fast, and it’s important to jump on the best trends as soon as possible lest you be left in the dust. Seeming behind the times can discourage not just customers, but potential vendors and employees, who may see your company as unsuited for the lightning pace of the business world.
If you’re too busy building the foundations of a business, you’ll miss out on the cutting-edge technologies available to boost your productivity and profitability. We only have so many resources, both mentally and physically, to achieve our goals, so utilizing resources already available will let you give more attention to building profit through modernizing your processes.
Every business will need updates from time to time: modernizing a website, developing new initiatives, capitalizing on social media trends, or improving branding and marketing. If you already have the basic requirements of a successful business met, you can hone in on initiatives that will take a good product and make it even better.
Using a marketplace site makes it easier than ever to buy a business
It’s clear that purchasing a business is an incredible opportunity, but how do you go about finding your dream company? Before the ubiquity of business marketplace sites, this was a daunting prospect, requiring you to hunt down lead after lead in hopes of finding one business owner willing to sell. Owners interested in divesting don’t always advertise this to the public, as it can make it seem as if they’re unsure about their business’s future success; however, business owners walk away from their companies for many reasons, not all of which have anything to do with the profitability of their work.
However, such secrecy is a thing of the past. Now, you can search through hundreds of available businesses in your industry and area, as well as gain access to information on their profit margins and past success. This makes it easier – and safer – to overtake the operation of a business.
Using a business marketplace site is incredibly simple. You search for the industries you’d like to investigate, as well as the area you’d like to work, and you’ll find many opportunities available. Once you’ve found a few leads, you can start looking more carefully at those best prospects, then make an offer. Before you know it, you’ll be a bona fide business owner!
Final thoughts
Becoming a business owner is a dream come true, but it can be intimidating to consider all the headaches that come with starting a business from the ground level. While this is what most people think of when they imagine entrepreneurs, it’s not the only option – or even the best one. By using a business marketplace site and purchasing a pre-existing business, you can save an extraordinary amount of time, money, and stress, all while fulfilling your desire to be a business owner.
