We all want to a piece of the good life
The objective is clear enough, but how are you planning to achieve it? The sentiments in the title of this article sound great, but don’t fool yourself because they are not easy to accomplish. Typically, you have to either be lucky as hell or are well connected to find the real great deals. Seeing that you are reading this blog post, I am going to have to assume that you are like the rest of us and unfortunately not afforded either of these luxuries. That means you are left having to work hard and are stuck doing a ton of research if you hope make your dreams come true and to buy a great business at a reasonable price.
The desire is there, now you need to do something about it
Ask yourself what the most important thing is to you when thinking about owning a business. What is it that motivates you more than anything else? For some people it is the bottom line; they just want to make a decent living. Others need more, they want to be a huge success that everyone knows. Social recognition is a powerful stimulus and if that is what you need than you better make sure you are entering a competitive playing field where you actually stand a chance. Then, there are those that want to create a legacy; something that they can pass down from generation to generation. Effectively, these individuals want to create a semblance of immortality and you will see that many entrepreneurs will display such characteristics as they continue to get older.
I am certain that I know what kind of business I want to buy
If this is the case then you are only left with a few options to choose from. You can pool your resources, spend time learning about the industry, spend even more time trying to find the right business for sale, and then attempt to negotiate a fair deal on it. Or, you can bypass all the “fun” and contact a professional that does this on a daily basis. Trust me, it is a lot of hard work, and the only reason business brokers get good at it is because they are committed to the job and thus do these things repeatedly. There are just so many different things that could go wrong, and you want to be well prepared when they do. Most importantly, a business broker can share their experiences with you, providing invaluable advice, and connect you with a priceless network of sellers and buyers that they work hard to maintain. Of course, this does come at a price, but so should your time. In the end, the price that you pay a professional business broker will likely be a lot less then what you would have paid in legal fees or left on the table during negotiations.