One very good reason to buy a business instead of starting one is that it is usually easier to borrow money to buy an existing business that has positive cash flow.
A message to first-time business buyers: owning a business has risk. You can minimize it, but never eliminate it. If you can't handle risk, don't do it.
While most small businesses are sold with assets, some service businesses only have cash flow. Make sure you think through the advantages and disadvantages of both and make the right decision for you.
While buying the business you work for has its own special challenges, many of the issues you encountered are now yours to solve.
Successful business buyers ask many and great questions, but they don't hesitate to pull the trigger on a decision.
If you've never owned a business consider getting some professional help with how to buy and then run it.
Spend a fair amount of time researching and asking questions when preparing to get a loan to buy a business.
There are many questions that should always be asked when buying a business, but at a certain point a decision must be made.
When buying a business, don't let your excitement drown out the voice of your intuition.
Franchises vary widely in the level of training and support they provide. If you're thinking of buying a franchise, talk to other franchisees about their experience with training and support.
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