Buying An Existing Business, What Are The Advantages?
The seven advantages to buying an existing business 1) EXISTING CUSTOMERS Most clients or customers are loyal to locations and businesses. A transition period and similar measures can ensure that the customer base remains after the owner is gone.Finding clients for a new business is expensive and time consuming. But a new buyer can often benefit from even an old customer list supplied by the seller. One buyer reports that his seller’s list was so well kept that he easily built a prospect database to contact existing clients. 2) SEASONED EMPLOYEES Experienced employees are an important benefit when acquiring an existing business. They already know how the business works, so they can be a key asset if they are included by the old and new owners at the proper time during acquisition. Both sellers and buyers recognize they represent a valuable part of the business, which is why buyers often meet with employees when the sale is pending. 3) MARKET PLACEMENT DEFINED A going concern is already
