Home Forums Starting your journey Picking a business

  • This topic is empty.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
  • #1000397
    • Total posts: 46

    I am looking at starting a business but buying one that already has a customer base. Alot I am looking at are online stores at sell stock. What would you recommend?

    • Total posts: 712

    It is difficult to answer such a question. Everything depends on what you know, what you have experience in, what you want, what there is a market for and your experience in marketing, etc.

    • Total posts: 3

    I recommend that you choose a relevant area of business in which you understand.

    • Total posts: 2,344

    I agree with the above. Your own experience/background would be relevant to the sort of online business you might choose to buy. If you do choose to buy an online business that sells product, it’s also important to look at ‘what’ you are buying at what price. I know there are a few out there offering to sell ‘businesses’ but are perhaps more accurately a ‘package’ of developed things like website, domain name, social media handles etc.

    For example, if someone says they can sell you a business that comes with website, social media handles, customer database analyise whether the ‘brand’ name that comes with that is registered as a trade mark so actually safe to use; analyise those customers and their ordering history (are they likely to be repeat customers?) and also compare cost of purchasing these things against the cost of doing it yourself.

Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.