The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

how do you go from workin 9 to 5 to buying a business?

what should i take into consideration as a first time buyer?im looking at business's that are around $200.000 dollars,will i need a large amount of cash up front?how do i find out if i even qualify for financing ? what would be my first step? like i said im a first time buyer with no education on buying a business and i appricate any adivse.

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., ""

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, illegal activities, or to rant about personal issues. Please review the full guidelines if you have any questions.

Submit Your Answer
Answers (4)
Mrs. Elizabeth White
Washington County, FL


Hello to All across the globe, I am Mrs. Elizabeth White, from United State Of America, USA. I am a mother of 4 kids and I was stuck in a financial situation and I needed to refinance and pay my bills. I tried seeking loans from various loan firms both private and corporate but never with success, and most banks declined my credit ,do not fall prey to those hoodlums at there that call them self money lender they are all scam , all they want is your money and you will not hear from them again they have done it to me twice before I meet Dr. Maverick Leonidas the most interesting part of it is that my loan was transfer to me within 74hours so I will advice you to contact Dr. Maverick Leonidas if you are interested in getting loan and you are sure you can pay him back on time you can contact him via email……… ( No credit check, no co signer with just 2% interest rate and better repayment plans and schedule if you must contact any firm with reference to securing a loan without collateral then contact Dr. Maverick Leonidas today for your loan

They offer all kind of categories of loan they

Short term loan (1_10years)
Long term loan (20_30 years)
They offer loan like
Home loan............., Business loan........ Debt consolidation loan .......
Student loan..........,Business start up loan
Business loan....... , Company loan..............Mortgages loan
construction loan........ hotel loan....personal loans.. etc

When it comes to financial crisis and you need to be free from financial crisis then Dr. Maverick Leonidas loan loan is the place to go please just tell him I Mrs Elizabeth White direct you Good Luck....

Aug 17, 2017
Steven St
World Business Partners, Inc
Los Angeles County, CA

Wow. Great question. I wish more first time buyers would really ask this question but unfortunately many do not.

Buying a business is more than just a job. Even though, most new business owners will work longer then anyone else in the company (and they should). Most new business owners are not mentally ready for working every day for 8-10-12 hours a day or more. And when you're not at work you will be thinking about work. It's a totally different animal than working for someone else when after you get off of work you're done.

When you own your own business you are never "done."

Next, I would say, think of what you would do if you had all the money in the world what kind of business would you do to be happy. That would be a good start to finding out what kind of business you would like to be in and then go to a book store and read a few books on buying a business (there are a lot).

The good news is most business owners only buy one or two business their entire life. So you do not have to be an expert at something you are only going to do one or two times. You just have to get it right when you do buy a business. You can get a lot of help from good accountants and attorneys who specialize in buying businesses.

And here's one big tip. Most businesses fail because of lack cash or funding sources. You have 200k. Don't put it all down on your business. Factor in how much you are going to need to live on and how much you will need to run the business efficiently for 6 months to a year.

Apr 25, 2009
No User Photo
The BAF Group LLC

With no education on buying a business, a Franchise might be a great way to start. Some of the Franchise people - like I imagine David would - usually are tied in to some semblance of financing. But Franshises are not the only way to go. And even if you decide on that route, the first thing you need to do is to determine what you want to do when you grow up! (That is supposed to be funny, not insulting.) What I mean by that is, decide in what kinds of businesses you would be interested. What are your skills? What are your interests? If you are a software programmer by background, and know nothing about automobiles, you probably don't want to buy a Gas Station with a set of Repair Bays. Be realistic with your own capabilities and goals, THEN look for specific Franchises, startups or mature, independent businesses.

Apr 14, 2009
No User Photo
Franchise Advisory Group

Jeremy, You ask great questions and I can definitely help you in answering them all. It would be a lot to type on here, so if you'd like, please call me at any time 1-888-241-6629 and I will be more than happy to discuss these and other concerns with you.

Apr 14, 2009