{"id":3464,"date":"2021-08-05T03:39:39","date_gmt":"2021-08-05T03:39:39","guid":{"rendered":""},"modified":"2024-03-26T17:09:08","modified_gmt":"2024-03-26T17:09:08","slug":"the-advantage-of-buying-an-existing-business","status":"publish","type":"post","link":"https:\/\/www.sunbeltcanada.com\/atlantic\/the-advantage-of-buying-an-existing-business\/","title":{"rendered":"The Advantage of Buying an Existing Business"},"content":{"rendered":"
\"\"<\/p>\n

Most people think of starting a business from scratch, developing an idea, building a company from the ground up. Starting from scratch, however, has its disadvantages including \u2013 developing a customer base, marketing the business, hiring employees and creating cash flow \u2026 without any history or reputation to rely on.<\/p>\n

To avoid these challenges, buying an existing business may prove to be the better solution.\u00a0 Buying an existing business has its advantages \u2013 including, but not limited to:<\/p>\n

The Business Is Established.<\/strong><\/p>\n

An existing business is a known entity. It has an established and historical track record. It has a customer or client base, established vendors, and suppliers. It has a physical location with furniture, fixtures, and equipment in place. The term \u201cturnkey operation\u201d may be overused, but an existing business is just that, and more. New franchises may offer a so-called turnkey business opportunity, but it ends there. Start-ups are starting from scratch with all the disadvantages stated above.<\/p>\n

The Business Has Existing Relationships.<\/strong><\/p>\n

In addition to the existing relationships with customers or clients, vendors, and suppliers, most businesses also have experienced employees who are valuable assets to the company. A buyer may already have established relationships with banks, insurance companies, printers, advertisers, professional advisors, etc., but if not \u2013 the existing business\/owner does, and they can readily be transferred to the buyer as part of the acquisition.<\/p>\n

The Business Isn\u2019t \u201cA Pig in a Poke\u201d.<\/strong><\/p>\n

Starting a new business is just that: \u201ca pig in a poke.\u201d No matter how much research, time, and money you invest, there\u2019s still a big risk in starting a business from scratch. An existing business has a financial track record along with established policies and procedures. A prospective buyer can see the financial history of a business \u2013 when sales are high and low, what the true expenses of the business are, and how much money an owner can make, and more. Also, in almost all cases, a seller is more than willing to stay on to teach and work with a new owner \u2013 sometimes free of charge.<\/p>\n

An Existing Business Comes with A Price and Terms.<\/strong><\/p>\n

As stated above, an existing business has everything in place. The business is in operation and typically has an established selling price. Opening a new business from scratch comes with a great degree of uncertainty and can become a proverbial \u201cmoney pit\u201d. When purchasing an established business, a buyer knows exactly what he or she is getting for their money. In many cases, a seller is also willing to take a reasonable down payment and then finance the balance of the purchase price.<\/p>\n

The \u201cUnwritten\u201d Guarantee.<\/strong><\/p>\n

By financing the purchase price, a seller is saying that he or she is confident that the business will be able to pay its bills, support the new owner, plus make any required payments to the seller.<\/p>\n

Copyright: Business Brokerage Press, Inc.<\/a><\/p>\n

monkeybusinessimages\/BigStock.com<\/a><\/p>\n

The post The Advantage of Buying an Existing Business<\/a> appeared first on Deal Studio – Automate, accelerate and elevate your deal making<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Most people think of starting a business from scratch, developing an idea, building a company from the ground up. Starting from scratch, however, has its disadvantages including \u2013 developing a customer base, marketing the business, hiring employees and creating cash flow \u2026 without any history or reputation to rely on. To avoid these challenges, buying an existing business may prove to be the better solution.\u00a0 Buying an existing business has its advantages \u2013 including, but not limited to: The Business Is Established. An existing business is a known entity. It has an established and historical track record. It has a\u2026<\/p>\n","protected":false},"author":105,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3464","post","type-post","status-publish","format-standard","hentry","category-buyer-articles"],"blocksy_meta":"","yoast_head":"\nThe Advantage of Buying an Existing Business - Sunbelt Canada Atlantic<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Advantage of Buying an Existing Business\" \/>\n<meta property=\"og:description\" content=\"Most people think of starting a business from scratch, developing an idea, building a company from the ground up. Starting from scratch, however, has its disadvantages including \u2013 developing a customer base, marketing the business, hiring employees and creating cash flow \u2026 without any history or reputation to rely on. To avoid these challenges, buying an existing business may prove to be the better solution.\u00a0 Buying an existing business has its advantages \u2013 including, but not limited to: The Business Is Established. An existing business is a known entity. It has an established and historical track record. 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