So You Want to Own a Business?
Resources for Current Business Owners
You only get to buy a business once.
Make sure it’s the right one for you – and you’ re the right owner for it.
Ownership Assessment
Do you understand what you are getting into, and are you cut out for the task?
Income Reality Check
Get realistic about the nice living you expect as a company owner versus what your job is really paying you now.
What Will It Really Cost?
How much money do you actually need to buy a business? Not just the sales price; the rest can add to tens of thousands or more.
Buy For Real
With the knowledge you’ve gained, enter the market and acquire a real company. [This link requires the password obtained by completing the Experienced Buyer button at left.]
This link will require a password that you obtain by completing the questionnaire under the Experienced Buyer button at left.
My Approach
I can work with you in 3 ways:
- Coaching on becoming a buyer
- Your personal agent to find the right business
- Your gateway into existing listings
I don’t take on buyer clients who aren’t all that serious and think they have learned everything they need to know in an hour on the internet for free. All I can say is, “caveat emptor”. Some buyers really do set out to spend $1 million of their hard-earned money in a process they don’t understand on a business they know nothing about. Good luck with that.
If you’re going to take your business investment seriously, I’m happy to work with you as a client. Start out with the Buyer Readiness Assessment, and then we’ll talk.
If and when you are ready to jump into the market, I am a business broker and commercial real estate agent with Transworld Business Advisors, the largest such network in the country. We’ll get it done for you.
How It Works
You may be thinking, “I’m bringing good money to buy a business. Why are you giving me a hard time?”
The sad fact is that over 90 percent of the people who contact me (and other brokers) to say they want to buy a listed business do not ever actually do buy one. That’s not because we don’t have the one that was offered. It’s because the buyer has no idea what they are getting into, and often they resent the market reality that the best businesses require more money than they have. Eventually, after weeks or months of wasting their time and everyone else’s, they withdraw in a sulk, convinced that the market and the world is conspiring against them. It isn’t. It just doesn’t care what you want. It only cares what you can afford. If you are thinking about spending $500,000 to $5 million and you have no idea what you are doing, that’s not a great recipe for success.
If you’re a novice buyer, I look forward to educating you on the business of buying businesses — real ones, not “nothing down” scams. But first you need to get familiar with what we are talking about. Complete the assessment, look around this site, and read “The Goldmine on the Corner”. Or you can use the link below to enrol in the buyer’s mentoring program. Then we can talk sensibly.
If you have already bought a business before and pulled it off successfully, then we’re having a differnt conversation, of course. The assessment will sort that out with a couple of questions, so for you old hands out there, please complete it prior to trying to schedule an appointment to discuss a particular business or business buying in general.
Owner Readiness Assessment
Are you really ready to buy a business, and should you do so? Click here to begin a short no-cost assessment as a reality check.
Buying Capacity Profile
You’ll complete a Buyer Profile, which will establish what type and size of business is feasible for you.
Conduct a Search
You (or we) will conduct a search for businesses that meet your needs, your abilities, and your capacity.
Close the Deal
We help you structure and negotiate an offer , deal with the tedious details of due diligence, and carry out the activities that must happen to fulfil the contract.
Buyer Training and Coaching Package
Three months of biweekly coaching calls to walk you through the first 3 steps (of 7) of the buying process detailed in “Goldmine on the Corner.” That will take you to the point of being ready to make a live offer for a real business.
$900
More Details
You’re cautious. You’re not quite ready to dive into the market, especially knowing that you’re only going to get one bite at the ownership apple. This package walks you through the first 3 steps (of 7) in the Goldmine buying process. Those steps ensure that you conduct the necessary self-exploration and market analysis to be confident that you’ve selected a business that is right for you, and you are the right owner for that business.
Buyer-Broker Package
Have your own personal broker for up to one year to find the type of business you want and guide you through the detailed process of buying it.
Amount stated is the refundable retainer rate on a monthly basis. See expanded “More Details” section for terms.
$1,500
More Details
,1. This service provided through Transworld Business Advisors and terms may change without notice.
2. The fees may be rebated to you up to the amount of the buyer-side share of commissions we receive if you buy a business listed by us or co-brokered. This rebate may or may not be available depending on the terms of the agreement you actually sign with Transworld.
3. The first 90 days of retainer are due at initiation and are not refundable (but may be rebated). After 3 months, you can elect month-to-month to continue or to stop.
4. See the Transworld retainer agreement for more specific terms and conditions.
Still uncertain?
Take the free assessment and see what happens.
Or go on over to the Resources page and do some more reading.