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Opportunities Do Exist for Buying a Business and Why You Should Care

According to a Federal Reserve survey, approximately 50,000 businesses changed hands in the United States in 2001. By 2004, The Federal Reserve survey reported the number of companies sold increased to 350,000, and it went on to project that in 2009, 750,000 would be sold. While there are 23 million businesses in the United States, only about 5 million actually have employees, leaving a lot of very small and home-based businesses (a total of about 17 million of them). Census data indicates that many of these are small mom-and-pop businesses. Will all the companies be sold? Probably not. Historically, about one third will be passed on within the family and two thirds will be sold. Just

6 common mistakes to avoid when buying a business

For many of us, owning a business is part of the American Dream right behind owning our own home. But, buying a business is a complicated and emotional process. Here are some common mistakes that others have committed when purchasing a business – Do not commit the same mistakes they did. Do not pay too much for the business. This may be the result of many of other mistakes discussed later, but you should be careful to know the real value of the business before you sign on the dotted line. The results of paying too much may mean higher loan payments, lower profits, tighter cash flow and potential failure. Do not pay for undeveloped potential. You should only pay for the current operating

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