Many of us would relish the opportunity to be our own boss. And that thinking has made many at least consider the thought of buying their own business. But it’s risky – not to mention a bit scary, too. What industry do you focus on? And where do you look to find potential business opportunities? How about a good bargain? After all, wouldn’t it be nice to pay a fraction of the cost of a start-up?
Our featured guest in this Episode of The Small Business Trends Radio is John L. Herman Jr., Founder of Hermanisms.com. Herman is recognized as an expert in the sale of financially troubled companies and he’s sharing his insider tips on how to buy a business at a bargain with us. Herman is also the Author of: Hermanisms – Axioms for Business and Life.
- Half of most businesses are “under water”? — Yes, more than 60% of operating businesses are financially drowning. Yikes! So what’s the best way to acquire these businesses? Surprisingly, Herman says all you have to do is ask. Many owners may already be looking for a way out.
- Do bankers really love buyers with cash? — Not surprisingly. . .yes, they do. And they will help apply the pressure to the seller to accept a low offer to get their hands on it.
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Small Business Trends LLC, 2008