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Where to start?

Jun 28, 2016 posted by BaconWizard

13

I'm having issues on knowing where to start with purchasing a business. I have no realistic amount of money to get started, so I'm guessing a loan would have to be my ticket to making a business.

How do I go on about asking business sellers that I am interested without looking like a fool?

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Reply from Nunzio Presta

Added on Jun 28, 2016 16:50

Hi BaconWizard, First and foremost, nice username! Your entry is particularly interesting because I sense that most people can relate to what you are going through. The journey to buying a business or franchise can be daunting and this is why the BizON marketplace was created - to redefine the experience and provide our members (you) with a positive journey that is seamless, resourceful and supportive. As you can tell from above, people at BizON stick together and want to help! In addition to the above answers, I would suggest (along with engaging in BizONs resources, tips and tools) checking out your Government's business site. For example, in Canada, we have the Canada Business Network (a division of the Canadian Government) - that provides great content, advice and guidance. You can take some notes from them as you engage with our search engine in order to connect with buyers so that your connection has more purpose and no one involved is wasting time. I highly recommend checking this out: http://bit.ly/1qK63dQ All the best, NP

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Reply from James C

Added on Jun 28, 2016 12:21

Hey! I found myself in the same position! The first thing to do is understand why you want to own your own business and figure out what kind of business would suit you. It's very important to find something that you will love and that provides you with some sort of fulfillment. As far as funding the purchase (cash and/or financing) - look to family, look to investors, look to financial institutions! Do whatever it take, especially if the existing business is a great opportunity that provides substantial annual return. Good sellers will take every buyer seriously, so don't worry about looking like a fool - have more confidence and go for it!

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Reply from Jerry L

Added on Jun 28, 2016 12:22

^ Bang on James C