New small businesses have a very high mortality rate and it is estimated that around half of all new business ventures will not survive during the first three years.
So, for people who want to run your own business but can’t stand the high risk of start-up failure, buying an existing business is an option. But why would a business go on the market in the first place?
Successful businesses are sold all the time for a variety of reasons. The personal circumstances of the owner may have changed. Perhaps they are moving elsewhere, having children or they might have just become bored. The benefit for you here is that the business will have a proven track record of profitability that is likely to continue once you take over. Experts predict a huge number of businesses will be available for sale over the next decade as the “babyboomer” generation reaches retirement age.
Changing ownership can help a business achieve a new level of success. You will bring new ideas and a invaluable fresh perspective to the business. Because the business has existing customers and steady cash-flow from the moment you take over, it gives you some security to plan for the future. It is also far easier securing finance to purchase an existing business than it is to convince investors to risk funds on a start-up venture.
For software that will help to take your newly purchased small business to the next level, try WinWeb. To find out how our software and services could benefit your business, speak to one of our Specialists today.