Home – New Forums Find the help you need buying a business… Reply To: buying a business…

#1070506
mnj’s buyers group
Member
  • Total posts: 17
Up
0
::

Hi Helen,

I’m not a lawyer, accountant or anyone that can give you professional advice but I have seen/experienced the start up vs buying the established.

My husband and I never had any capital and we built our business from our last $50, The business isn’t huge but has supported a family of 5 for 15 years and casual employess over that time.

My sister bought an established business and has worked hard on it over many years. As with any business, there is always going to be problems whether it bee teething problems or teenage problems.

I had my children earlier than my siblings and when it came to looking after small children again I had forgotten how difficult it was. And when they looked after my children in the beginning they didn’t realise how much work went into it. What i am trying to convey is that if you have had no business experience (not sure, really need to know more about what you are interested in) it may be more difficult for you to jump into an established business that to start one from the grass roots.

In my opinion investing in an established business makes your job easier but you really need to know the ins and outs and every aspect of the business to maintain the level of income and growth. If we had capital when we started out we would have seriously looked at an established business but again you really would need to be careful that you knew exactly what you were getting into.

The first question for any business purchase I would want answered and verified somehow is…..

If the business is so great, why are you selling it?

There are soooooo many things you need to decide with venture so I wish you all the best!!

Cheers

Megan