Hello,
I'm a mid-aged guy looking to buy his first business. I have a lot of motivation and ambition to work for myself. I have saved money, built my credit and put myself in what I would consider, the best possible position to start/buy a small business. I live in a town that is considered one of the wealthiest and fastest growing mid-sized towns (under 50k population but within 15 mins of a large 220k population city). I'm not sure if I want to pursue a complete start up or buy an existing successful small business. I have great credit and great work ethic. I am leaning toward buying an existing business that turns a profit over starting something fresh due to limited profit. I'm curious what people with a lot of experience owning small businesses would advise in terms of buying existing small businesses, financing (seller) and how to capitalize on a great business purchase even when its' not your "American Dream" (sometimes you have to build up to the American Dream!). My details are below...please go easy on me...this is, what I'm hoping, will be a new chapter in my life! Btw, I'm currently employed...biding my time for the right moment.
Mid 30's
Married w/ kids
Do not own home or any other business
$30-40K (liquid assets/cash)
750+ credit scores for both spouse and I
I'm a mid-aged guy looking to buy his first business. I have a lot of motivation and ambition to work for myself. I have saved money, built my credit and put myself in what I would consider, the best possible position to start/buy a small business. I live in a town that is considered one of the wealthiest and fastest growing mid-sized towns (under 50k population but within 15 mins of a large 220k population city). I'm not sure if I want to pursue a complete start up or buy an existing successful small business. I have great credit and great work ethic. I am leaning toward buying an existing business that turns a profit over starting something fresh due to limited profit. I'm curious what people with a lot of experience owning small businesses would advise in terms of buying existing small businesses, financing (seller) and how to capitalize on a great business purchase even when its' not your "American Dream" (sometimes you have to build up to the American Dream!). My details are below...please go easy on me...this is, what I'm hoping, will be a new chapter in my life! Btw, I'm currently employed...biding my time for the right moment.
Mid 30's
Married w/ kids
Do not own home or any other business
$30-40K (liquid assets/cash)
750+ credit scores for both spouse and I
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