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Here's the bad news if you're planning to buy a business:
According to industry statistics, over 90% of the people who begin the search to
buy a business fail to ever complete a purchase. Even worse,
the average person looks at business for sale listings for 18 months and still,
they never buy one! What a monumental waste of time!
Part of the problem is that most businesses listed for sale
are overpriced and have plenty of problems. Buying a
business is a major undertaking. There's a lot at stake.
This is one decision you must get right the first time. If
not, the consequences will be enormous!
Why so many failures? There were several
common reasons given by those who failed to realize their
dream of business ownership or worse, ended up buying a bad
business. Most were first time buyers and they admitted to
having totally underestimated just how much was involved
with each stage of the buying process. They felt overwhelmed
and ill equipped to handle all of the new situations and
major decisions they encountered.
The business you buy will determine your financial
future: buy a good one and the rewards will be
incredible! But don't take anything for granted. You cannot
guess your way to success. It takes "know how" to be
successful in this endeavour. When you have the right
information, it's easy to make good decisions. But without
the knowledge, you'll end up buying the wrong business!
Before you invest your savings to buy a business shouldn't
you first learn how to buy the right one?
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