Buy businesses that will do well in the next decade or so by catering to the needs that will be important in the future. Rather than grabbing on to a current trend, the smart business buyer will look at industries on a growth track because of demographic, economic, cultural and social developments. Included are:
1. Senior services. As the population rapidly ages, with more and more people in need of some sort of assistance as they reach their senior years, the companies that sell products and provide services to this market stand to gain dramatically in business. On the retail side are stores offering walkers, incontinence aids, hearing devices and other products needed by those becoming less mobile and experiencing health challenges.
Services cover a wide range from in-home help offering companionship, transportation and shopping assistance for example, to facilities such as activity centers and agencies organizing travel programs for older citizens.
2. Child enrichment and education programs--Shrinking state budgets have drastically reduced the opportunities for those of school age to gain exposure to music, languages, athletics and specialized educational activities. Californians wanting to buy businesses with a future will find opportunities to work with small children by purchasing a day care center. And for those interested in working with older children, there may be an opportunity in your area to acquire a dance academy, music or language institute, summer school program or other services that help youngsters gain skills and knowledge, and assist parents whose career demands require work during some of the hours that the kids are not in the public or private schools they attend.
3. Many Californians with full work schedules also have need for help with pets, provided by businesses such as pet (boarding) hotels and daily care facilities. Until a few years ago, there were few businesses in this category, but growing demand has given rise to a booming industry. This total economy, including pet supplies, sellers of animals, and services has experienced much less disruption during the dip in the economy than most other businesses catering to consumers. And pet care remains a leader in the pets business, in terms of new company formations.
Animal lovers wanting to buy businesses with strong future prospects are advised to take a look at the range of service companies from the simple, one-person dog walking and animal "sitting" enterprises to the large boarding companies.
4. Thrift shops, consignment stores and retailers offering “pre-owned” furniture, clothing and housewares don’t attract much attention compared to fashion outlets and big-box stores with low pricing. The fact is, however, the need of a growing number of Americans to carefully control their spending is creating a vibrant business offering bargain goods by selling recycled items or products that are made and sold cheaply. Companies in this industry are multiplying in most metropolitan and rural communities and might be offered for sale by individuals as well as franchisors. The trend that places consumers in the position of flat earnings but rising living costs is expected to continue well into the future. The retailers able to cater to the need for inexpensive goods should enjoy expanding demand for the foreseeable future.
Among the companies expected to do particularly well in the next several years, many require owners and employees with specialty training in engineering, environmental sciences, and other technical disciplines. The virtue of the four industries mentioned here, is that they can be successfully operated by those without technology backgrounds who want to buy businesses likely to grow at least through the early part of this century.
About the Author: Peter Siegel, MBA is the Founder of www.BizBen.com (established 1994 - 7000+ California businesses for sale, 200 new listings daily) and the Director of the BizBen Network (16,000 business buyers, 4,000 small business owners, 1,800 California business brokers & agents). BizBen.com offers business buyers free online webinars/educational events, and phone consultations on the best way to find and buy a California small to mid-sized business. Business buyers can reach Peter Siegel direct at 866-270-6278.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Brad Steinberg, Broker - Laundromat Specialists
PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.
|Joe Sandbank, Esq. - Legal Services
I have provided legal counsel to business buyers, sellers and brokers for over 17 years. With prior experience as a business broker and SBA loan officer, Joe brings both a practical and legal approach to all aspects of the business acquisition process.
|Ranvir S. Sandhu, Esq. - Legal Services For Buyers And Sellers
I've worked at top Bay Area law firms and have extensive experience with business entity formation, mergers, dissolutions, conversions, employment matters, including experience in reviewing and negotiating transactional documents such as leases and purchase agreements.
|Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services
Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.
|Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area
Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.
|Helen Yoo: Escrow & Bulk Sale Services - Southern California
New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Elizabeth McGovern: Escrow Services - SF Bay Area
McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.
|Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses
Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.
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