How To Start A Profitable Business

Did you know that the best businesses to start are the ones that are already established? Starting a new business from the ground up can be risky with all the uncertainty. After all, a victorious business requires well-trained employees, an established customer market, great management, and brand presence. It’s not shocking to hear that roughly 30% of small businesses fail within the first year. Even if the business makes it past the strenuous first year, its success still isn’t certain. According to the U.S Small Business Administration (SBA), 50% of all business startups fail within the first five years. It is also stated that 25% of those businesses that make it past five years go on to see 15 years or more. Hence the good news: if you buy a business that’s already successful, with trained employees, a healthy customer base, and historically profitable cash flow, your odds of long-term success are 90-95%. 

So, where do you find these already established profitable businesses? You can find them popping up everywhere. In the next ten years, an unprecedented number of Baby Boomers in the U.S. will explore converting their existing businesses into retirement money. If you ask us, that’s a huge pool of opportunities. Baby Boomers own about 60% of the 15 million privately held companies. That means that roughly 9 million business owners will need to close shop, sell to a new owner, or pass the company on to family Once those businesses go up for sale, Bison Business will be there for you to ease the transition and usher in the greatest business buyers’ market in history. That’s why we’re streamlining the process of buying a business down to the dotted line to secure our reputation as the fastest, fairest, and easiest-to-work-with brokers in Texas.

You can depend on Bison Business to only provide cream-of-the-crop opportunities that we would consider purchasing with our money.

Buying An Existing Business

Buying an existing business helps you inherit a business’s reputation, the flow of profits, and customers. This can help you reduce the risks associated with being a new business owner. However, buying existing businesses isn’t always a positive purchase. The business could have outdated distribution methods, out of date inventory, or poor management. Also, it’s important to understand why the business is selling in the first place. Is the industry as a whole experiencing a decline in sales? Is the business selling to get out of a legal issue? Or, is the owner just ready to sell? It can be hard to analyze all these variables but that’s where we can help

At Bison Business, we make it even easier to search for great businesses. One of our biggest priorities that we don’t waste your time. If our team identifies incomplete financials, stories that don’t add up, or stressful situations, we will pass on engaging with the business to the system. Each of the businesses we list ensures a quality standard of: 

  • Consistent revenue of $500k- $20 million per year
  • Growth opportunities
  • Passive investments for cash flow or equity investors

As brokers, we price the businesses fairly. This is a win-win situation for both parties. Better yet, we design deals to have a fast return on initial investments. We’re not here to sell you on great businesses through high-pressure sales pitches. Our team is here, to be honest, transparent, and ethical. When you’re ready to buy a company, we want to be the ones you call. 

The Best Businesses To Buy

The best businesses to buy are the ones you’re comfortable acquiring. Instead of seeking the “perfect business” with the best business model, try to focus on what you can see yourself succeeding best with. Not everyone is cut out to run an eCommerce store or a consulting firm. Looking for the best businesses to purchase can be like looking for your next full-time job. It requires patience, knowledge, and skill. Look in industries that you’re most familiar with and understand, while also considering your skills and experience. If you’re familiar with the particular business model, look for similar businesses. If you don’t’ know computers, it might not be a good idea that you look to purchase a tech company. 

Furthermore, once you’ve found a business that stirs your interest, talk to one of our business brokers. They are able to give you insights on the information you might not be able to find in your research. Additionally, we can assist with the next steps of acquisition. Our experts understand that business is personal and will only help you find businesses with the highest potential. Get in contact with us today for a guide to buying a business!

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