If you want to own your own business and wouldn’t mind a potential head start, it’s time to look at established businesses or franchise resales. With a business that is already up and running, you can benefit with the staff and equipment that is already in place. If you choose to buy a franchise for sale, you will also receive ongoing training and support from the franchisor, something that is crucial if you are transitioning from a corporate career or do not have industry experience.
Here are 3 key reasons to buy an established business or franchise for sale:
- You will have an existing customer base. You will not have to start from scratch if you buy an existing business. This is a huge advantage because you will already have a foundation for sales, though it will still be up to you as the business owner to build on that foundation and spur growth through networking and marketing.
- You may inherit experienced staff, which helps with the transition.Of course, you have to make sure the current employees are the right fit for your personality and management style, but having an experienced staff in place when taking over a business can really cut down on your learning curve. Buying into a franchise system is also helpful because the franchisor should provide you with full guidance and support to ease that transition as well.
- An established business already has the location, equipment and supplies in place to help accelerate your starting point.Buying an existing business means the wheels have already been set in motion for you. The bulk of the heavy lifting has been done such as finding a location for your business and having office equipment and amenities installed, which is a huge burden lifted off your shoulders. With that said, it is important for you to take stock of what is already in place and what needs to be upgraded or reordered.
Ultimately, buying an existing business or franchise is a way for aspiring business owners to move to the front of the line of entrepreneurship. After conducting research and doing your own due diligence, the next step should be to see what opportunities are out there that best suits your skill set and desired business model.
From there, it’s always a good idea to go right to the source and have a conversation with the seller or franchisor and see if there’s a fit. You are making a life-changing decision, and so it is important to have a high comfort level with the people you are doing business with. Once that connection is established and you see the business up close, you just might be well on your way to realizing your dream of owning your own business without having to start from zero, and with the help and support you deserve.
Jeff Robey is regional vice president for Minuteman Press International for the Florida. Jeff provides valuable ongoing support to Minuteman Press franchise locations in his area. Learn more about Minuteman Press franchise opportunities and access Minuteman Press franchise reviews at www.minutemanpressfranchise.com.