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Looking to buy a small business, only problem is no investment. How does a young person buy small businesses?

I am looking to possibly buy a small business such as a laundry mat in the Greater Seattle Area. I am 27 years old without any initial investment availible to even get a loan. Are there options?

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Answers (3)
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The BAF Group LLC
MD

There are two, routinely fatal mistakes that I see in businesses that fail: (1) A lack of planning, and to do that, you need to write a detailed Business Plan; everybody HATES to do it, but there is very little in the way of an alternative, especially for someone such as yourself. And (2) is a lack of Capital; if you get too deeply entrenched in debt from the start, and have no reserves to fall back on, you will almost certainly bomb!

Sep 29, 2009
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

There are some possibilities for loans if you have good credit. Have you looked at all avenues?
What is your background, what kind of experience have you had. These are all questions that would help determine if there are any possibilities. Why do you want a business and not a job? Check out what we have to offer and lets talk. Maybe we can help you, we need someone in the Seattle area.
Jon at Edgemaster

Sep 28, 2009
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m g

none that are fast-find a job in the business you want and learn and save $$.
working with more than one employer in your field with diversify your learning to acquire
best practices

Sep 25, 2009