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Any advice on which type of business to purchase is best? By which type, I am referring to franchise...

I'm looking to buy a business. I'm in my later years and have a lot of business experience, but little experience running my own business. I'd appreciate any input about the pros and cons between the various options, such as a new franchise opportunity, an existing franchise or an existing business.


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The BAF Group LLC

As a Business Broker, several thoughts. First, if you need the cash flow immediately, you probably should look at a going business, rather than a start-up. However, in any business, whether you start-up or buy a mature entity, you need to measure the cost of the purchase, compared to what it will cost to start a similar business from scratch. The cost of the start-up must always include estimates of what you will lose in the first months or even years, before you break even. If it costs less to start one up, that's the way to go. Second - and David Dolitsky can talk about this far more eloquently than I - but if you have not been in business for yourself before, a Franchise is potentially a great way to go. Ideally, the Franchise offers the training and support you need, in order to operate and grow your business. It is definitely NOT a guarantee of success, and you need to compare the support between various Franchises, as well. But that is precisely the kind of benefit someone such as yourself can obtain, in order to minimize the risk. Good luck!

Apr 9, 2009
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Franchise Advisory Group

Rob, I wrote several blogs on this issue, so please visit my website and read them at your earliest convenience. Also, please feel free to call me directly and I will be more than happy to discuss this with you in greater detail. 1-888-241-6629

Apr 9, 2009

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