I'm thinking about quitting the corporate world and trying to run my own own small business. Anybody have experience buying or selling an existing small business?

Any good reference sites? Sites to search for opportunities?

 

bizben.com

note:as you might already know retail sux..

 

Think it through over and over and over. It's a big step. My brother went from assistant shop foreman at a MBZ stealership to owning a Goodyear establishment. First of all, do you have the capital? You'll need to put down at least 25% of the purchase price when you go through a SBA lender + inventory etc. They have very strict guidelines in terms of qualifying for financing i.e. homeowner. No bank would loan my brother the $ so the owner financed the purchase. He hates it. Works twice as much twice as hard and makes ~35% more. I would recomend finding a business broker who is willing to work with you (not that many out there). there are tons of people who want to purchase small businesses, but onlya few can so they'll 'test' you to see whether it'll be worth their while.

im getting back into the RE/mortgage sales industry soon. im in Cali, but i could use my resources to find a BB out in Chitown later this month

 

Ive been upstarting, buying, and selling small businesses for a number of years now. Please do NOT take this as a d!ck answer, but something that will save you A LOT of money, a lot of time, and a lot or heartache.....

If you are asking this question, you cannot do it.

Running a business, a successful business, is slave labor (15+ hours a day for the first year at least,) buying a business is very risky, and no business is successful unless the owner is a)Passionate about the work b)knows the business inside out.

To help you.....answer this question honestly....

What do you love to do?

 

ah, another office drone dreaming of greener pastures. while it is true that owning a small business can be rewarding, and if done correctly, can be financially advantageous, the reality is that it is often a lot harder work, longer work, and more stressful.
retail small businesses are perhaps even more competitive than any other form of small business. if u have no idea, whichit seems like u do, then i suggest a franchise, the most easily digested form of entering retail, but eventually the most soul destroying.
if u feel passionate or have knowledge in a particular area, then u could pursue that direction. but no matter what direction u take, it isnt going to be easy, nor quick
my experience?? ive been involved in food retail for nearly all my life, and have been directly involved in it for about 15 years. i am aware of all facets of food retail, from shopping centres to stand alone sites. pros and cons, its all there if u wanna ask

 

you should just put tiny classifieds ads in thousands of newspapers....

I will explain how if you send me $39.99 plus shipping and handling.

 

Every time I look at a small business that is for sale there is always a bunch of bullshit. I ask for tax returns and they say "o, well he didn't report a bunch of the income".... okay.... so how the **** do you expect to sell it based on it losing $ according to the tax returns........and / or it is a one man operation that the guy lives at the store (movie rental place and a convience store).

I will stick with rental houses..... the midget twins can show you how to become a millionaire in less than 4 hours...just pay them $1600 for the course.

 

Yeah I can also tell you this. Send me $2k

 

fooker...... okay...$1.50....

 

I would spend at least a few months in the specific industry before buying the advertised business.