If you have gotten tired of looking at the same old main street businesses, I would like you to know you are not alone.
You should be prepared to look for up to two years to find the right fit.
If a business is overpriced but making money or the business is not making more than a minimal salary for the owner, then it is still not a viable purchase for you. Therefore, 80% of everything on the market for sale is not viable for you. That leaves only 20% of the businesses on the market worth seriously looking at.
The important piece of information that is missed by many is there are many more types of businesses out there then what is on the market.
We are in a technology age where over 50% of the businesses out there today will not exist in 20 years. There will be a whole new world of ways to make a living.
Start studying the new technology of today that will become main steam businesses in the coming years.
Why not ride the wave up instead of down.
Retail store fronts are being replaced by e-commerce businesses, which are not locked into high rents. Every year the number of on-line businesses increases. If you learn the tricks of this trade you can sell anything. Home based businesses are another category that covers all kinds of activities, all of which save a lot of money, because of greatly reduced rent, utilities and auto expenses.
It is time to look outside the box.
I will be writing more articles about this subject as I study what consumers or businesses will need and want over the next 5 years.
When you find that great business or idea, do please contact me and together we can determine the pros and cons of the business. Due diligence is very important in purchasing a business, so don’t buy a business without doing due diligence.
Image supplied by: KennethHan (Own work) [Public domain], via Wikimedia Commons