You have the chops to be an entrepreneur, but would rather not start with a new idea — or just plain don’t have a new idea worth starting — you may be a great candidate to buy an existing business instead if you think.
While purchasing a preexisting company typically involves more upfront expense, moreover it presents less danger than beginning scratch. Economically, you’re taking a look at real revenue and loss documents as opposed to rough quotes, and there’s a history that is clear of to point out. You can also get valuable patents or copyrights, or are able to drive a stagnant business in an exciting direction along with your expertise.
Why founders offer companies
It’s a typical myth — a social stigma, also — that when a creator chooses to sell a company, there has to be something very wrong along with it. Either it is planning to go under, or even the financials have been in bad form, or perhaps the founders got to know one thing you don’t, right?
The truth is, founders offer their organizations for an array of reasons. They could be in a various life phase, and also the requirements regarding the company no further match their life style. Or possibly they’ve grown uninterested in the present business design, or they’re excited about an idea that is new. The company they began could be a great one, just not merely one they truly are passionate about operating day-to-day anymore. More