For most buyers, the transaction of buying a business will be a once or twice in a lifetime experience that involves an investment of a major portion of their financial worth. Why buy a business to begin with? Most successful business owners will say that owning a business gives them enormous freedom. They are their own boss and in control of their own destiny. They have increased their earning potential, and are working towards financial independence. In short, they have more choices in their lives. Good businesses usually provide good cash flow, and owners have used this cash flow to make other profitable investments such as buying property. In many cases this includes the building their business is in. The key to success however, is to buy a quality business – one where there is potential for the new owner to use their skills and energy to take that business to the next level. Often a business for sale can be poorly presented, over-priced or in a poor state. Here at McDonald Real estate we work with our clients to ensure their business is presented well and priced realistically. According to industry statistics, over 90% of the people who begin the search to buy a business fail to ever complete a purchase – even after looking for as long as eighteen months. How ready are you to buy a business? The process of purchasing a business can take some time – and will require effort, motivation and commitment on your part. Meeting with your McDonald Real Estate team can help you assess how ready you are to start this process. We can discuss what kind of business would be most suitable for you, whether you have the necessary time and commitment, and we can run through the financial arrangements that will be required of you. A POSITIVE WAY TO BUY A BETTER BUSINESS eieio.co.nz
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