Entrepreneur Tips for Buying an Existing Business - How to Take a ‘Sprouted Seed’ and Make it Grow

Tips for Buying an Existing Business

Becoming an entrepreneur is a grand adventure, but not everyone wants to start from scratch. In fact, many entrepreneurs are electing to purchase an established business for sale because it gives them an existing book of business that will help them grow faster than a startup. In some cases, high-performing franchises with healthy revenue streams become available when their owners elect to move on to the next phase of their lives. Opportunities such as these are among the most coveted businesses for professionals with capital to invest.

Here are some tips and advice for entrepreneurs who are interested in buying an existing business:

If, as a new business owner, you infuse an existing business with an enormous amount of enthusiasm, knowing that by the time you make your purchase you have secured the proper training and support from a solid franchise system, you will have created the framework for a potentially rewarding entrepreneurial experience. The biggest keys are to build upon existing goodwill with clients, capitalize on inroads made in the community, and have a sound business plan in place that will allow you every opportunity to open the floodgates to an already flowing revenue stream.

Matthew Peretz is regional vice president for Minuteman Press International for the St. Louis and Minneapolis regions. Matt provides valuable ongoing support to Minuteman Press franchise locations in his area. Learn more about Minuteman Press franchise opportunities at www.minutemanpressfranchise.com.