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The New Job Security

April 26, 2012

When you think of going into business, what comes to your mind? Most people conjure up visions of a brilliant idea and building a company from scratch—successful for some but not usually without deep pockets, substantial risk and a workaholic lifestyle. There are no existing customers, no sales and little to no immediate revenue. You need to market your business, hire and train employees and hopefully establish a cash flow… all without a track record or reputation to go on.

These are some of the benefits of buying a business instead of starting one:

  • Less Risk. You walk into an operation that already has revenue and profit.
  • Relationships. You have a well established customer base, a good track record and a competitive edge because of the company’s tenure.
  • Financing. The banks are more willing to provide financing to buy an existing business versus funding a new venture.
  • Employees. Included in the purchase of a business are loyal employees who know every aspect of the company. You don’t have to reinvent the wheel by developing procedures, systems and policies, since the blueprint for running a profitable business is already in place.

Best of all, you don’t have to compete for that ever elusive “secure” corporate position that could evaporate, in the name of downsizing, restructuring or reorganization… taking your benefit package with it. That’s what the new owners Detlev and Anke Braatz considered with their recent purchase of Paulette’s Cleaning Services, a commercial cleaning business on Vancouver Island.  “Despite our years of experience and education, we just couldn’t find jobs” says Anke. “So we looked for a business that was up and running, something we could easily do.” Thankfully,” she adds, “our business broker helped us protect our interests with a Due Diligence Checklist, a step-by-step process that was invaluable. Our clients are happy as are our 9 employees and we continue to have the support of the previous owner.”

Working for someone else is trading time for money, but doesn’t build equity. As an entrepreneur, you are the master of your own destiny.

If you are considering business ownership or the sale of your business, we can help.  Visit our local website at www.bcbusinessbroker.ca or www.sunbeltnetwork.com/vancouverisland or phone 1-877-289-0969.

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