Wednesday, November 20, 2013

Learn How to Go About Buying a Business

According to market intelligence firm IDC, 99.7% of all employers in the United States own a small business. You may have long been interested in starting your own company, but it's not something to jump into without preparation. First, you should make sure that you know what to look for when buying a business.

Learn how to buy a Florida Business
On November 12, Boss.blogs.NYTimes.com published an article about a restaurant in Tampa, Florida, that is on the market for $170,000. If that seems high, fear not! There are options out there that are both far more expensive as well as some that are more affordable.

There are a few reasons for the price on the restaurant in Tampa Bay being what it is, including the terrific location, an established presence and the fact that restaurants are hot in today's market. The right business broker can tell you what to look for when buying a business, so that you do not inadvertently wind up getting in too deep.

Purchasing a business will not do you much good if you cannot afford to pay any staff after you get things up and running. Buying businesses is not something that everyone is cut out to do, but for those who are interested, a business broker could be the answer.  Traditionally, business brokers screen buyers for the business owner that is looking to sell their business. They also provide a great deal of exposure for the business being sold, marketing it to the right group of buyers.

In certain states like Florida, business brokers are required to have a real estate license to practice their business legally.   Overall more than half of Americans dream of owning their own company, according to a poll by BizBuySell. As long as they learn what to look for when buying a business from a legitimate source, that dream could easily become a reality and Truforte Business Group is always a good place to start for buying a Florida business!

Thursday, November 7, 2013

Before You Buy a Business, Get a Little Help From a Broker

 
Buying a business is not a decision to make lightly. There are reasons both for and against buying an existing business, but one of the prevailing reasons for it is that an existing business does not need any start-up effort. Customers, employees, assets - everything is already in place. All you need to do is negotiate terms with the current owner. The first thing you should do is contact a business broker. A business broker is someone who can help you find new business opportunities or a small business for sale. Buying a business is not nearly as simple as just finding a broker, though. There is a process, and if you are excited to be making this kind of move, then here is what the process of buying a business might look like.
  1. What to look for when buying a business.
  2. A business broker can help you find a business, but how will you know if it is the right fit for
    you? Some people prefer to choose a business that is in close proximity to them, while others look for businesses that have a strong history and customer base. A fair selling price is something that you will have to consider, and whether you are either able to run the business yourself, or if you will need to hire someone with the appropriate skill set to successfully run it for you. You might want to look for a business that is in a state with laws, taxes, and legislation that support small businesses.
  3. Do not forget about due diligence.
  4. Once you have selected a business that you are considering buying, you will need to make sure that the business is operating according to all legal requirements. According to the United States Small Business Association, you will want to review all of the licenses and permits that the small business currently has. This will likely depend on what state the business resides in, and the type of industry it belongs to. You will want to check on zoning requirements, environmental regulations, and anything else that might affect the value or legitimacy of the prospective business. Certified financial records, balance sheets, leases, major contracts, cash flow, employee contracts and benefits, anything that could potentially cause a problem or influence your decision about the value of the business.
  5. Buying the business.
  6. Once you have done due diligence and been satisfied in the security of your potential investment, you may begin negotiating with the current owner. If you and the business owner cannot decide on a price, you can hire an appraiser, and then work towards an agreement on the terms, down payment, and which assets will be sold. A lawyer may be necessary at this point, because legal forms will need to be signed so that the business can change hands.
These three steps are a simplified representation of how to buy a business, but they should give you a general idea of what your journey will look like. Remember to choose a business that you believe you will be capable of running, and thoroughly investigate it before working towards a negotiated sale. As an entrepreneur, the entire process will likely be both challenging, enjoyable, and a good test-run for your new full-fledged business endeavor.

Friday, November 1, 2013

Buying a Restaurant on Fort Myers Beach in Florida

Not often do quality opportunities arise to purchase a restaurant on Fort Myers Beach.  That is why buyers need to act quickly when restaurant opportunities become available that are located in popular Florida tourist destinations, like Fort Myers Beach.


Why people buy restaurants on Fort Myers Beach:
Location, location, location… When searching for business opportunities, buyers need to analyze not
Buying a Fort Myers Beach Restaurant for sale
only what the income potential is and has been, but also where the restaurant is located and how that location can help in the success of your purchase of a business. What makes this restaurant different in terms of demographics of the area? Very few locations in Southwest Florida will offer a greater opportunity to succeed in the restaurant business than Fort Myers Beach.

When to buy a restaurant on Fort Myers Beach:
Fort Myers Beach and Southwest Florida in general has seasonal residents and tourists that come to the area primarily January through May. This is what local residents call “season”… The best time to buy a restaurant on Fort Myers Beach is prior to the start of season. This will help new ownership capitalize on increased revenue opportunities and help them get through slower months in the summer.

Finding and buying a restaurant on Fort Myers Beach:

When it comes time for buying or selling a Fort Myers beach restaurant, contacting a qualified business broker at Truforte Business Group is always a great place to start. To get started or to learn more visit us at Fort Myers Beach Restaurants for Sale or www.TruforteBusinessGroup.com