Buying A Ready Made Business
Statistics show that many start up businesses fail to make it beyond the first five years of trading. According to Barclays Bank, as many as 25 % of all new businesses fail in their first year.
While starting a new business is still popular, it’s more risky, so it’s easy to see the appeal of buying a company with a track record of more than five years. Choose wisely and it’s possible to buy a company with strong cash flows, a good customer base, great employees and a good reputation within the local market. It’s not hard to see that the buyer of a ready made business stands a greater chance of success and gains instant credibility along with the purchase.
With none of the financial, physical and time investment needed to nurture a young company, it makes sense to buy a business that’s already been through the teething problems and has been previously filed in a country of your choice.
Buying A Company Abroad
And the choice is huge. There are ready made companies up for sale in countries including the United States, Europe, the UK, the Caribbean and Australia and the internet has made it far easier for everyone to research the thousands of businesses on the market across the globe.
Buying a company abroad is not difficult or unusual today. It’s much easier than some might think to realise the dream of becoming a business owner overseas and believe it or not, it can sometimes take less than a week!
Hiring the Right Ready Made Company Professionals
But to help you make an informed decision and guide you through the whole process that’s unique to each country, it’s imperative you find the right professionals. Make sure to choose a respected firm with years of experience in buying and selling overseas. They’ll be there to hold your hand with all the tax and corporate issues, offering advice on the many questions that might arise before you decide to buy your new business venture. They’ll also be there to help you through the crucial first few months of owning the business with cast iron plans for the training period with the seller and getting to know and share your vision with the employees.
Before you start looking for that ready made dream ticket of a business, it’s worth sitting down and really thinking about what kind of company is right for you. It’s probably the single most important aspect of the process. Think about your strengths, weaknesses, experience and interests, likes, dislikes, and where you’ve succeeded and failed in the past. It’s all relevant to what inspires and drives you on.
Weighing up your greatest strengths and matching them to the right company, will greatly help refine your search. It will cut out the wasted hours of looking into ill matched businesses that will do little to inspire you in the long run. With a clear focus, the right ventures will shine out like beacons, lighting the way to your next business success.