What to consider while purchasing an existing business

Discussion in 'Growing and Managing a Business' started by jackflaming, Feb 17, 2012.

  1. jackflaming

    jackflaming
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    I am an online marketer. I am thinking of buying a business. First, I was thinking of starting a new business but reading various discussions here, I concluded that buying an existing business is better than starting a new one. But now I am not able to decide which industry I should choose for having a business and what points I should keep in mind while buying a business. So guys, please help me in that.
     
  2. Mark T

    Mark T
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    First of all, with a lot of industries that we have, which of these are you motivated and captured your interest? More likely a n industry where you know a lot more than the other industries.
    Next would be researching about the fundamentals of being in that industry, and how other businesses work out on such industries.

    We can tell you a lot of good and great industries that you can choose from, but only yourself can determine which one fits your INTEREST. Some people fail in their chosen business and industry because most of the did not choose the industry base on their passion but because they only saw a potential to earn a profit - that's it - no passion at all. While some succeed 'cause their passion on that area is high and they do not just aim for huge profit.
     

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