Around the Web: A Week in Summary

Around the Web: A Week in Summary

The following information has been sourced by Business Brokerage Press for the benefit of the business brokerage community. The views of these articles do not necessarily represent the views of Business Brokerage Press. We hope you find this information helpful.

 

A recent article from Citrus County Chronicle entitled “Thinking of starting a business? Consider buying instead” discusses the benefits of buying a business as opposed to starting a new business from the ground up. Starting a new business can be challenging with coming up with the right idea, developing a team, and funding it.

Buying an existing business has several advantages including:

  • You don’t have to start from scratch; there will be existing customers, suppliers, employees, etc.
  • Financing may be available such as an SBA loan
  • You can do due diligence to verify each aspect of the business
  • You may already know the business well if you work in or around it

Click here to read the full article.

 

A recent article from BizBuySell entitled “Financing Advantages of Buying a Franchise in 2023” explores why buying a franchise can be an excellent option for aspiring entrepreneurs. Owning a franchise has seen a steady 12% year-over-year growth.

Advantages of buying a franchise include:

  • Turnkey operation
  • Corporate support and training
  • Less perceived risk from lenders
  • Availability of Rollover as Business Startups (ROBS)
  • Availability of SBA 7(a) Loans

Click here to read the full article.

 

A recent article from Exit Strategies Group entitled “Instead of selling, they’re growing” explores what a business owner can do when it’s not the right time to sell. Instead of taking a loss by selling at a low value, it may be better to hold and grow.

It is best to exit strong, meaning when your business is on a growth trend. Implement growth initiatives to increase cash flow and the value of the business. You may even consider an acquisition for immediate growth.

It is also wise to exit before burnout sets in. Often once burnout sets in, the business begins to suffer and margins decrease. This can significantly diminish the value of the business.

Click here to read the full article.