The Ultimate Guide to Buying a Business.
When it comes to buying a Business, there are several options out there.
- Start your own business from scratch.
- Purchase an existing business, which has already been trading and has a customer base.
- Buy into a Franchise.
Each has its positives and negatives and arguably everyone will have differing opinions regarding each.
Starting up your own business can be a great option, however there are many complications you may face.
Not knowing how to overcome these complications may prevent your success. However, the ultimate success lies in the fact that you’ve created something from nothing and made it successful.
Buying an existing, established business rather than starting a new business can be a good option for many potential business owners.
Established businesses come with an existing customer base and are already trading. However, you may also inherit problems that the business has. You need to know exactly what you’re signing up for, and be clear about your ability to run a business.
Buying into a Franchise is a simple, less complex method of business ownership.
The Franchise is there to do all of the hard work at the start and help you along the way. Franchise businesses provide a great opportunity for those who require support and a helping hand.
However, regardless of which option you decide, you will have to check business records, plans and operations, and familiarise yourself with your competitors and the industry.
Check that the business has the appropriate licences, permits and registrations and find out which ones can be transferred to you.
At Your First Step we give like-minded, motivated people the opportunity to own their own business, be their own boss and to control their own destiny.
We understand that everyone has a different motivation for wanting to run their own business.
Whether you’re looking to escape the corporate world, achieve better balance in your life, follow a passion, escape the daily traffic, or simply spend more time with your family – there is no RIGHT reason for wanting start a new business, there is only YOUR reason, and
Ultimately, our success is determined by your success – so we are here from YOUR FIRST STEP right through to handover and post-sale support.