As the country continues to struggle with the ups and downs of the economy, and California sees its way through a troubling budget, many things are being forced to change. One change that is emerging from the challenged business brokerage industry is several new types of business buyers many business brokers and agents are now seeing.
Two types of business buyers many business brokers and agents are now working with:
1. Those that are buying a business for job security. An option for some who have lost their job has been to buy a business as an alternative to seeking out traditional employment. Many people look at it as an opportunity to maintain a level of “job security” and the costs of buying an existing business with a good reputation and strong growth potential is less of an investment than if they were to start a business from the ground up.
2. Those that are buying a business as a supplement to retirement. As boomers start to retire in record numbers, many are realizing that the economy has taken a hit on their retirement savings and it just won’t be enough. Many younger boomers are looking to buy a business as a means to supplement their retirement while being able to maintain their new lifestyle.
In addition, with it being a buyer’s market, many first time entrepreneurs are seeing it as good time to take the leap into business ownership. First time buyers are willing to explore more creative ways in terms of financing which is beneficial to not only them, but the seller as well.
About The Author: Ron Hottes, with Business Team has a business brokerage team of 42 highly skilled and seasoned professionals with offices in Torrance, Woodland Hills and Newport Beach. Our business brokers have over 100 years of cumulative experience and the expertise to help you buy or sell a business in the Los Angeles County area. Reach him by phone at 310-539-8300.
Posted on March 22, 2011 | 
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