Truth 14. Buying a business
If you’re intrigued by the idea of owning and operating a business but don’t want to start a business from scratch or pursue franchising or direct sales, a final option is to buy an existing business. Although there are many rewards associated with building a business from the ground up, there are distinct advantages to buying a business that’s already established. There will also be an increasing number of businesses for sale to choose from. An estimated 65 percent to 75 percent of all small businesses in the United States—some 10 million—will likely go up for sale over the next five to ten years as a result of the retirement of baby boomers.[1]
There are two primary advantages to buying an existing business. ...
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