Entrepreneurship by Acquisition …..a better alternative

Contrary to what most people believe, being an entrepreneur is not just about making money, and is it not purely about starting, owning, and running a small business to create value — it is a way of life and alternative to the model of go-to-school, get-good-grades, and get-a-good-job.   Entrepreneurship has historically been defined as a process through which individuals identify opportunities, allocate resources, and create value.  This creation of value is often through the identification of unmet needs or through the identification of opportunities for change. But in this current economic with a dramatic decrease in consumer spending, tight lending (or access to capital), budding entrepreneurs will (or should) seek success by identifying opportunities for change with existing businesses.

The current crop of new entrepreneurs, many because of the dismal job market, will become an entrepreneur by buying a business, managing that business, growing it, and they view this as a career decision in lieu of (or better than) working for someone else.

Buying a business has always offered advantages over starting one for seasoned professionals, but currently those advantages or even greater. Some of those advantages are

• Proven concept, business model, products or services in place
• Cash flow (and hopefully recurring revenue) from day one
• An existing customer base, contracts and, vendor relationships  
• Existing staff and management
• Transition of knowledge from the seller (current owner) allows the buyer to learn about running the business, which helps in gaining an insight about their experiences and also the expertise needed to keep the business competitive.
• Brand or reputation - existing goodwill is associated with the product/service, name and location.
• Lenders or financiers are more willing to lend money to an existing business with a track record.

If you’ve bitten by the entrepreneurial bug, you can either start a business from scratch or buy an existing operation. However the risks associated with starting a business from scratch, which has always been great, are much more frightening during economic times like we’re now experiencing.

 

For a complimentary consultation

Contact Cecil Williams

 For more information call me at 888-925-5055 ext.206

 

 Visit my website to search for business for sale in Florida

www.bizbrokerflorida.com