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Guide to Start a Car Wash Business

Starting either from scratch would cost a certain amount. Whether this would be more of less than buying an existing business would depend on the deal that could be made with the current owner. If the owner is motivated and trying to just get out of the business, then a better deal may be possible. The circumstances would dictate the answers to these questions.

Talking with business brokers and looking on the Internet could help in finding a person with a mobile business. The fixed property would probably be easier to find.

Another possibility would be to start with a mobile business and as the cash flow became more stable, look into getting or adding a fixed location car wash.

The Internet is a terrific way to find businesses/equipment for sale

A person thinking about starting one of these car wash associated businesses can easily find car washes for sale and brokers who represent them. The mobile businesses may be slightly harder to find, but they are available. The advantage of buying an existing business is almost always a better way to go than starting one from scratch. The immediate cash flow and clients is a huge plus to a new owner. This factor could be the difference between success and failure. An existing business is much easier to push past the break-even point and to a successful venture. A true start-up business has to gain clients and slowly build up cash flow. The question for the owner of this business is will it happen soon enough for the business to survive.

Talk with a broker about what is available and the terms they feel they can obtain from the current owner. If this is out of your reach financially, then a mobile hand wash could be the answer or using a small power washer to get the business off the ground and started. There are several options in this business that could lead to a successful new business. Getting clients will be the biggest problem facing the new owner of such a business, as there are few to none when the business is opened.

The Internet can be used to find equipment, which is new or used. This is another real advantage of using this tool to help a potential owner find what is needed. Just put in what you are looking for in the search box and you will be surprised at how many sources will show up.

Arranging financing of an existing business

The current owner is the obvious source of some financing of an existing business. The problem is the buyer will have to pay a higher price for the business than if it were being purchased for cash. Having your financing in place when making your offer for the business will save money on the purchase price.

The Internet is an excellent way to find business financing for your purchase. There are several firms that show up on the Net for this type of loans. These firms are in the business of doing this kind of lending and are much more understanding of the problems a new owner faces when buying a business. They are certainly worth contacting and discussing your situation.

Car Wash information and Car Wash business planning

There are great sources on the Net that will help the potential owner of any type of business. The Car Wash business is well covered and a buyer can get good information about running and owning this type of business. Having prior knowledge of what is needed to be successful in this business will help a potential buyer decide if this is the correct move for them to follow. A book that tells the facts is invaluable to the buyer of such a business. Getting an up close and personal look before the fact lets the buyer imagine what it would be like to own a car wash business. If they like what the see in their minds eye they can pursue the project.

Another way to get information is to speak with people in the business. They may be willing to talk if they are sure that you will not be in competition with them. They could lead you to brokers and companies that would be helpful in getting more information. The one question that you should try to get them to answer is would they do it again. Has it panned out like they thought it would before they got into it?

Any information from all sources will help you evaluate even better the advantages and disadvantages of going into such a business. This is true of any type of business that a person is considering.

The problem as always is one size does not fit all. One owners experience could be great and another could wish they never made the decision

Conclusions

This business, car washing, has so many options available to owners and potential buyers that need to be looked at and considered very carefully.

It is not like buying a restaurant or a plumbing company. Those businesses have limited variations such as location or the type special services they offer. This business has many different levels of financial commitment to buy or start. All of these options make this an interesting business to consider. People are very particular about their cars these days. Their car represents a substantial investment that needs care and ongoing maintenance. This means this business niche is likely to grow and be used by more people all of the time. A trend like that makes this business even more attractive to the potential owner.

Finding a business for sale and the needed money to make the purchase is fairly easy for a person that is used to using an Internet search engine. If you speak with someone in the business, they may be very helpful and even better they may be in the market to sell. If they are, the obvious question is why do they want to sell. In any event they could give you valuable insight into the business.

Start a Printing Business

If you want to own a facility this is very possible in almost any city as there is a turnover in this business and there are usually businesses for sale. You should checkout listings in the local paper, on the Internet and through business brokers. Any one of these can give you a lead to an owner that is looking to sell. Most of the printing businesses that are for sale can be purchased with the help of the owner or with outside financing if the deal is a large dollar situation. A large printing company can have considerable money in equipment and the building they own. They also will have a loyal customer base and an art file that is worth its weight in gold. This is an important asset, as the artwork may not need to be done again on repeat runs.

There are all types of printing companies. There are companies that print on high quality paper. Others may print catalogs or insert flyers for newspapers. Large poster printing is another printing specialty company. Screen-printing is a unique type of printing company as they do decals, bumper stickers, advertising boards, signs for bus, shirts, hats and cups. They can get a printed logo or text on just about any object that will take printing ink. All of these businesses can be very profitable once a clientele is in place. If the buyer has the money or can make a deal with the current owner, buying a going business is worth the investment if they are profitable.

Finding the right printing company for you

If you know the business then you will probably know already which area you would like to stay in. Local newspaper listings and the Internet will give you a quick overview of what is available. A business broker may have more detailed list to study. They should also have some idea of what kind of money is needed for each type of printing company. This source can speed up the looking process by several weeks or more. Hopefully they will have some of the specialty printing businesses in their lists. Some of these specialty companies are extremely profitable as the specialty cuts down the competition to a few providers.

If you need help with the purchase, the broker will know if the owner is willing to be a source of financing or is willing to go along with terms. There are so many ways a knowledgeable broker can help with the purchase. They can help with getting a fair price based on the financials of the company and not pie in the sky. Their ability to be a fair go-between for the buyer and the seller will expedite the sale. They can deliver terms the buyer can live with after the purchase.

The printing business has so many possible avenues that a buyer can pursue, there should be a deal that will suit the buyer. A very special segment of the printing business is the printing of circuit boards for computer companies and special equipment manufacturers. Advertising specialty items need to be printed. Almost every city has a company that does this type of business on a large scale.

Finding the money to complete the sale

Money is the grease that makes the deal happen. This critical element can be a stumbling block or just another problem to work through. If both parties take the attitude that this problem can be resolved, then normally there will be a way to make this happen. If the seller does not need the full balance in cash from the sale, it is possible that they will take back paper for a period of time. If they cannot or will not finance the sale, then the buyer will need to come up with other sources to get the money that is needed.

There are many companies listed on the Net that are in the business of making loans to facilitate a business purchase. Their requirements are varied and will depend on the purchase price, the company profitability, the credit rating of the buyer, the down payment and the length of the loan. If they agree to finance the purchase then the buyer will usually get a lower price for the purchase as the seller is receiving complete cash out.

Your own bank may be interested in making the loan. Friends and relatives are another source of funds. You may be able to get an SBA loan to make the sale. The buyer may have other assets that can be borrowed against to get the necessary funds. In any event the sale will not happen if the total price cannot be covered in some way. The buyer needs to be realistic if the funds are difficult to arrange and realize that this deal may not be possible.

Conclusions

Printing is a necessary service that most businesses need and cannot do without. This means that a person getting into this business has a huge number of possible clients to go after. This also means that there is always the prospect of extended growth for the company. This is a big plus for any new business owner.

The variety of printing businesses also opens many doors for the possible buyer. The many types of businesses that make up the printing industry will let the potential buyer find a niche that is just right for them. There are also franchise operations available and off shoots like screen-printing and specialty printing companies. This gives the buyer a selection to consider and study for the best fit for them, both financially and from an owner’s viewpoint. There is also the printing broker aspect that may be the easiest to enter, as the money needed to do it is rather small. This business category is full of many different opportunities.

Entrepreneurial Spirit

1. Uniqueness

In a highly developed global business community where new ideas and business models are increasingly in short supply the importance of uniqueness cannot be under estimated and those exhibiting an entrepreneurial spirit are often associated with concepts that encapsulate originality and ingenuity. Take for example, Steve Jobs bringing the Apple IPOD to the market,

2. Creativity

Creativity is heavily connected to uniqueness but the two are not identical. Individuals with an entrepreneurial spirit are experienced at harnessing the creative process to help them produce a unique product /service or advantage. So where as uniqueness describes the end outcome, creativity describes the process of how one achieves it. For this reason those with an entrepreneurial spirit are often creative individuals who are ready, willing and able to actively adopt new techniques to get ahead even at the expense of being ridiculed by others.

3. Risk Taking

In a western society that is so often risk averse, those with entrepreneurial spirit embrace risk taking and it is impossible for such a concept not to be associated with entrepreneurs and the often high risk potential involved in following a new cutting edge approach. It must be observed however that risk is not the same as recklessness and those demonstrating an entrepreneurial spirit are likely to be adept at assessing the risks involved in any undertaking.

4. Business Savy

As highlighted previously those with entrepreneurial spirit should not be considered as reckless mavericks indeed quite the opposite, good entrepreneurs are motivated by profit and are skilled at identifying a lucrative niche in the market that can be exploited for profit. Take for example, Steve Jobs at Apple Computers who has successfully navigated a profitable course in the computing and software industry despite the market being dominated by Microsoft and IBM for a number of decades. In addition he was the first to spot the potential of utilising the computing industry to open a new market to the music fraternity , with the introduction of the IPOD, the market leader in its business stream. Such actions requires great skill and confidence and demonstrate a clear entrepreneurial spirit.

5. Developing Potential

Identifying, Investing in and nurturing potential are also essential to the ideals attached associated with entrepreneurial spirit because of the need to find differing solutions to a business problem.

Established businesses often fail to discover breakthroughs because they stick to a rigid investment formula that has worked for them in the past rather than finding new ways of moving forward.

6. Adaptability

The entrepreneurial spirit is always adaptable and ready to overcome barriers presented by business problems and is usually quicker at resolving those issues than mainstream business thinkers.

7. Ultimately Destructive

Entrepreneurial spirit is ultimately destructive to its own business in the medium term unless those engaged in utilizing the concept recognize when it is time to handover to mainstream management focussed individuals who can maintain and develop the organisation. This is because true entrepreneurial spirit is obsessed with constant creativity and change which is unsettling to employees without good management and a clear direction. Many of those demonstrating entrepreneurial spirit rarely stay long term in any enterprise they undertake, take Richard Branson for example who after launching numerous businesses under the “Virgin” brand has subsequently sold on many of these to third parties at a huge profit to himself.

Guide to Start a Gym Business

The other way to do it is to buy an existing business with its built in clientele. If it is a membership fitness center, the clients are locked in for the period of their contract. Any membership considerations should be fully disclosed and made part of any buy out agreement. Again there may be franchise considerations that need to be disclosed.

This type of business will have some pretty healthy start-up cost or buy-out cost associated with it. The equipment needed and the employees to run the business are going to be substantial money drain as well as the building, the utilities and other business expenses. If it is a buy-out of an existing business the client list is worth a great deal. This cash flow generator will have a value of what it brings in each year. If the business is a franchise operation, there may be on going payments to be part of the franchise. If it is a start-up franchise then there will be additional cost to buy the franchise. This business will entail a substantial investment to buy or start. If this is your area of expertise, then you will need to figure out how much you can bring to the table to see if you can afford the purchase price or the start-up expense.

There is every reason to believe that you can make money owning one of these facilities. People are very conscious of the need to keep their body fit and are willing to pay good money to make this part of their life style. This was a fad at one time, but now it has become part of the culture to keep your body in good health. Many people need the added incentive to go to a place where they are expected to work out to keep their body in good repair. They also may need the advice of a fitness expert on how to take off weight or gain it back. The client may also need the exercise as part of a rehabilitation program. Or maybe the guy or girl just wants to look good to other people. It does not matter why they come to the center, just that they do and are willing to continue to pay to come.

Finding the right center for you to run

There are several ways to find businesses that are up for sale. The local papers can be one source. Business brokers are another solid source. A buyer can also use the Internet to find businesses that are for sale and business brokers that will help in the search. Finding a business in this field in your city may be difficult as there are not always candidates in this field for sale in all areas. This may be a good reason to get a good business broker on your side. They will know what is available and maybe a good deal about this market. This buy-out may necessitate moving to another city to find a business to purchase.

A business broker may be of great use in this business search. This is a unique business area and the number of businesses for sale will be somewhat limited and usually found only in larger cities. A larger business broker company would be a good place to start this investigation of what is available. This unique business would be a likely candidate to use a broker to help them make the sale.

Buying or financing a fitness business

Since this business has a high dollar cost to get into, most buyers will need to have substantial funds available or solid financing in order to buy an existing business or start one up. The money sources for this venture can be the current owner, an Internet business lender, your bank, your relatives, loans on property you own or family-money. This purchase is not a small consideration and most likely will take some kind of financing for most new owners. You should be aware of this going in and a discussion with a business broker could help you figure if it is feasible for you to make happen. This business is capital intensive to enter. The return can be excellent, but the upfront money needs to be considered from the beginning. If you are going to need financing, then the availability of financing will depend on what you can put down and your credit and business history. The deposit has to be a reasonable percentage of the full price for the business. Even owner financing will require a sizeable deposit on your part. The best course of action early on is to have a heart-to-heart conversation with a qualified business broker to see if it is possible for you to pull it off. If that answer is yes then finding the correct property for you may take some time to ferret out. You might be wise to check out some franchise operations to see what they offer. As you can see this is not like buying a local retail store or hardware. Check out the Net for yourself to see the listings and where you would have to buy in order to find a business for sale. There are not as many opportunities in this niche market as there are in other businesses. It just does not lend itself to starting one up without enough of a population to support its operation. Patience in finding the right property and the right deal will pay back big dividends in the long run. This is no place to buy a big white elephant.

Conclusions

This business entity is not as easy to find as other businesses are in every community. There are always restaurants for sale in every larger town. That may not be true with this type of business. You may have to look in other towns near you in order to find one that is for sale at a price that is within your budget. Even then you need to arrange financing that is reasonable when compared to the cash flow of the business. Franchising or a private center is another question to answer. All of these considerations must be looked at with a cold and realistic eye in order to have a chance for success in the future. The investment needed to carry this out requires that any reasonable buyer do this.

The ongoing expense of running this type of business must also be studied. Employees and advertising are going to be critical to running a successful operation. The long hours of operation are not like running an office. This factor alone makes employees a serious consideration. Another serious budget item will be an advertising campaign that will need to be active most months of the year. Certainly a solid campaign the last few months of the year when people are making up the New Year resolutions to get into better shape in the coming year. This is a solid business opportunity for those that have the funds or can get them.

 

Ideas of Agricultural Business Start Up

Many of the related agricultural businesses will not take the capital to get started or to buy that is needed for the purchase of a large ranch or farm Farming these days is a capital intensive business and this is one of the reasons that family units are always coming on the market. This opens the door for opportunity for the person looking to buy, but it also means that the buyer must have the capital or credit to make the purchase. A suggestion for a potential buyer is contact brokers who specialized in these businesses and see what is being offered and the terms of the offers. This will quickly inform the buyer what they are going to need to make a sale happen.

Getting started in related businesses

If you are interested in owning an agricultural business that supports the farming community, then your capital outlay may be significantly lower and may show a higher percentage return on investment. Farming has a low return on invested capital since the price of land and equipment has sky rocketed in this current market. Some of the other specialized businesses can be purchased or started with less capital and the percentage return is considerably higher. These are factors that should be considered by a potential new owner. One of the reasons that the family units come to market is just this fact. The old owners die or wish to retire and their children do not with to continue the business. So they put it up for sale, knowing they can get a better return on their money without the work or the risk of farming. Brokers usually know why a property is being offered and this knowledge can help the buyer make a better deal with the old owner. Maybe just as a matter of principal, they want to see their farm remain a family farm and not part of a large agricultural corporation.

Related businesses offer the potential owner the chance to be in the agricultural business, but with a lower entry cost. Again check the Internet and with brokers to see if there are existing businesses for sale. If you are planning a new start-up, then you will need to do a good deal of investigation and planning to see if your idea is feasible. The biggest problem you will have is the agricultural community is pretty loyal to old suppliers and a start-up must fight this earned loyalty. Another question is there enough possible business to make your operation money above expenses.

If you are going into a specialized crop area then this may be a situation where the return is much higher than normal farming. Some specialized crops do not take a huge amount of acreage to be successful. A small hot pepper farm can make a killing if they have the right crop and their harvesting season is different than the rest of the world. Small wineries in many states are allowing families to make a livable income and enjoy their way of life. Your broker should know if any of these types of agricultural businesses are for sale, or will you need to start your own operation from scratch.

A farm supply company is just a specialized retail store. If you know how to buy merchandise and then market it, this can be a very profitable business. If you can find a need and fill it then you are going to be well ahead for most businesses. Winning on price is a dangerous way to do business. Filling a need with something that others do not offer is a sure way to make money. This kind of a start-up is golden.

Any kind of special farm product that can be grown on small amounts of acreage can be a profitable venture as the capital cost are kept low and the return can be substantial. If you like an area and there is land available maybe this kind of agricultural business should be looked at and considered. Ag businesses that are support in nature and have nothing to do with the actual growing of the crops can be profitable as long as the farm community is financially healthy.

Conclusions

There are always agricultural businesses for sale; the problem is many potential owners do not have the needed capital or credit to pull off the deal. Farming is a high dollar investment due to the cost of land and equipment. It is also hard to begin a start-up since land is dear and good land is hard to find. This means that the only way most people can get into this area of the agricultural business is to buy an existing operation. Related agricultural businesses can also be found on the market. They may be easier to buy, as the investment needed will probably be lower and terms may be easier to arrange. This area is also easier to get a start-up off the ground and running.

Special crop production is another way to make it in the agricultural business. If you know how to produce a special farm product and you do not need a lot of land to make it work, then this area may be just the ticket. The markets are wide open for quality higher priced farm products.

The best advice that a potential owner can get is study the market and make sure you have the needed money to pull off whatever deal you are looking at. Find a knowledgeable broker and ask lots of questions. Use the Internet to look up answers to questions that you come across.

 

Ideas of Accounting Business Start Up

There are two obvious ways to gain ownership of an accounting firm. You can start an accounting practice from scratch or you can buy an existing firm. A hybrid way could be to buy into an existing firm with the plan to later buy the entire firm. There are advantages to both ways of entering the ownership of an accounting business. Starting one from scratch does not take a great deal of start-up capital, but there is no built in revenue source like there would be if an existing firm were purchased. This can be critical if the start-up owner is not good at acquiring new clients. A person starting from scratch should have at least some part time clients to give them some base customers. After that, the work of gaining clients one at a time is a battle that must be won and it is never ending during the first years of operation. The start-up owner must also have some capital to live on or another source of income while their business is getting off the ground.

Buying an existing accounting practice is going to cost quite a bit more than starting a business from the ground up. An existing business has established customers and an immediate cash flow that will help to carry the business into the future. The problem for the potential new owner is the business will have a price tag that is based on the annual income. The larger the cash flow, the higher the price will be for the accounting practice. The first rule when thinking about going into business for yourself is to seriously consider buying an existing business. If the buyer has the money, the advantages far outweigh the negatives of such a purchase. The immediate cash flow is a positive that makes buying an existing business a much better bet for success than a new start-up business.

Finding an existing business for sale is rather easy as the Internet is filled with brokers who specialize in buying and selling businesses. Many of these brokers have listings on their website. Find a couple in your area and see what they have to offer.

Other Accounting Business Possibilities

If a person likes accounting, but does not want to go the full route of becoming a CPA then there are other accounting business possibilities. A bookkeeping service can be started part time and slowly grow into a full time business. Every business needs their books kept up to date. It does not matter what kind of business it is, there is the consistent need for current bookkeeping. The owner of the business may not have the time to do the books, may not know how to do the accounting or just wants to hire out this aspect of his business. This opens the door to many businesses and can also be an arrangement with a CPA firm. The CPA firm may contract out the month-to-month bookkeeping to another company. They may just recommend another company to do the grunge bookkeeping work that is needed to run the business. The opportunity here is the business client needs the day-to-day bookkeeping done and does not want to do it for themselves. This fact opens the door to a bookkeeping service.

An offshoot of the bookkeeping service is a payroll service, which can be a very good income source for the small bookkeeping service. Every business has to pay its employees in a timely manner and with few errors. This service is a commonly contracted out part of running many businesses.

A third accounting business is a tax preparing service, sales tax service and employee income tax reporting. The tax preparation is an easy business to grow, as almost every body is a possible client. This means you can have individuals and businesses as clients. The individuals may be only once a year or four times a year. There are far more of these possible clients than there are businesses. This is a natural tie in for a bookkeeping service as the business client will have to report income and possible tax owed each year or maybe even four times a year.

All three of these accounting type businesses can be started on a small scale and grown over time. It is also possible to find a bookkeeping service that is for sale and has a ready clientele. Again it is about money to buy or time to build the business. The cash flow for a one-person office or with a part time assistant can be substantial once a client list is developed or purchased. This area of the accounting business lends itself to a weekend part time start-up. The other plus factor is that with the computer and the software that is now available any one with a knack for numbers and can read can get into these businesses. You can also jump start the business by buying out a going service with a good paying client list.

The other aspect of these niche areas is they do not take the formal education and meeting of state licensing requirements. The CPA exam for instance can take several years to pass.

Conclusions

If you have the education and can pass the CPA exams, then starting a CPA firm or buying one is a way to make a good living in a much needed business. The bookkeeping and the tax rules get more complicated each year. Clients have to be advised on how to meet these requirements. They need someone to do the work and it must be done right. Since they are experts at their business, they do not have the time or energy to study this area of their business. Consequently they hire it out to a firm or bring in a bookkeeper to help. All of these requirements make for a natural and lucrative arrangement for the accounting firm.

The same can be said for the bookkeeping service and it may be easier to get into, as the requirements are not as strict. The owner along with good software can do a great deal of the work needed by clients. Since the rules and regulations get more complicated each year, this area of business will do nothing but continue to be in demand.

 

Entrepreneurial Mindset

The way you think can really determine whether you will become a successful entrepreneur or not. Through the years, experts have studied and observed how the entrepreneurial mindset works and this is what they were able to discover:

1. Successful entrepreneurs think that they can do it. Armed with a vision of what they want to achieve, entrepreneurs have absolute confidence in themselves that they will be able to succeed. They look at things in a different way. When other people think of the obstacles along the way, entrepreneurs think of them as challenges. A strong belief, coupled with positive thinking, is just one of the marks of a successful entrepreneur.

2. Successful entrepreneurs think that risk is all part of the process. Most people are afraid of risks because they do not want to find themselves outside of their safety zone. Successful entrepreneurs think otherwise. Sometimes you need to come out of the safety zone and take risks in order to succeed. But winning entrepreneurs have another trait going for them – they know how to take calculated risks.

3. Successful entrepreneurs not only “think”, they “do.” They know that in order to be successful, action is needed. Having well-intentioned goals is good, but focused action would get you there.

Having the entrepreneurial mindset will help a lot in making you succeed with your next business endeavor. Developing it takes some time. But the earlier you take the effort of doing so, the better your chances of succeeding as an entrepreneur.

 

Start a Floral Business

The lower cash outlay to become an owner of a floral business could be the one factor that makes a person go one way versus another. If a person is going to open a brand new shop, they will have to pay particular attention to the location of their new store. Drive-by traffic and walking traffic can make a big difference in how fast the business grows. This type of floral operation would be the typical florist’s shop that you can find in many shopping centers. There are other variations of this type of floral business that a knowledgeable person could start or buy from a current owner. You could get into the wholesale side of the business and supply retail shops. You could supply businesses with floral arrangements that they want delivered every week. Weekly deliveries that are done on a contracted basis could be in addition to the normal business of the shop.

Where to find floral businesses that are for sale

One of the first places to start the process of looking for a business is to contact companies that franchise floral shops. They will know of any for sale or how to start a new one. Another quick source is to use an Internet search engine and see what comes up under floral businesses for sale. Acquireo.com has a list of Florists for Sale. A third excellent way to discover businesses for sale is to contact business brokers to see what they have listed in their firm. All of these sources will probably bare fruit and will jump-start your search for a business you can buy. A study of what is being offered will help you see what kind of money is needed to buy an existing shop that has been successful for a few years. The business brokers will usually know if the current owner is willing to carry back some paper or not. Knowing the lay of the land will give the prospective buyer knowledge of what they will need to do to buy an existing business. Being forewarned and aware could help shape an offer in the best light. A seller that claims that they will not consider an offer that is not the full price may waffle when shown an offer that is close to what they want and will entail a short term payment period for the balance.

Local newspaper ads are sometimes good places to find an offer to sell by an owner. You might also check with wholesale florist. They may know of a shop where the owner wishes to retire so they are looking to sell. Digging out possible purchases is grunge work, but it could pay off in the end with a great purchase of a successful business. Looking and asking is what it is all about and the time spent this way will give you a feel for what the market seems to be asking for a business.

Negotiating the deal with the current owner is sometimes better left to the broker than a direct face-to-face with the owner. The professional business broker has done this before as part of getting a buyer and seller together. Their experience may be worthwhile when working out the final price for the sale. If terms are needed, it is better coming through them than in an immediate meeting. Giving every body time to think is all it takes to let a deal simmer and then come to completion.

If you have the money we can deal

The long time saying is “money talks”. When buying a business this is absolutely a fact. Hard cash deals are difficult for a motivated seller to turn down. The secret for the buyer is to make a trial offer and see what kind of counter offer comes back from the seller. If you have all the money in cash, this makes your offer very attractive if it is even close to the bottom dollar the seller will accept. If you will need some term to buy, the seller will ask for more money as a final price. Most sellers have two prices in mind, the cash price and a terms price. It may be to your benefit to arrange for another source of needed extra money over what you already have available. Possible sources for this money are a bank loan, a business lender loan or family and friends. A business lender makes loans all of the time to buyers of businesses and they are very well versed in this type of lending. Because of their special knowledge, they may be easier to deal with. You can find several such lenders by doing a search for business loans on the Internet. If your credit rating is strong and you have other assets, you may be able to get a loan from your local bank. Friends and family are a final choice after the first two have not panned out.

It is to your advantage to offer an all cash deal to any seller as this will usually save money and give the offer more creditability. Money talks very loudly when buying a business. Let the seller stew over your offer and make the decision to accept the offer or reject it. If the business has had few offers, then yours may look like a gift from heaven.

Conclusions

The floral business is a niche business in the world of small businesses. A shopping center shop can be a little gold mine due to the traffic that wanders by the business. Customers buy gift for others and they also buy for their own enjoyment. Fresh flowers smell good and look marvelous when professionally arranged. If is hard to walk into a shop, browse and not buy something. The return on investment can be very good when the business has a substantial clientele. This solid success will also raise the price of this existing business so you can expect to pay top dollar to purchase it. Remember though that you start getting your money back almost immediately as the cash flow will begin right away.

If you start a new shop in a center you can expect slow growth for a while until you develop a clientele. Your cost of doing this should be far less than if you have purchased a going business. The decision is yours to make depending on the funds you have available to own a business. This is a common choice that new owners have to make.

 

Several Facets to a Successful Retail Operation

Location

Location is the critical element for almost all retail outlets. A store needs traffic passing by it every day. In a shopping center with other good retail outlets, there is a synergistic effect between them that helps each capture customers. Most centers are anchored by a prominent store, which gets a lot of traffic. This is of prime importance when looking at locations. A new store needs traffic to get off the ground and develop a following.

Merchandise

The next two important factors are the merchandise and the staff that waits on the customers. Both are critical to success of the store after the traffic situation is resolved. Attractive merchandise is needed or little or no sales will be made. If you get the people in the store, you need merchandise that gets attention and will be attractive enough that people want to purchase the items. The store will also need to constantly have new items for sale or the customers will begin to think that there is never anything new to look at or buy. Marketing and merchandising of products is an ongoing challenge to the retail merchant. How they do this and how often depend on what the general store image is to the public. Special times of the year will dictate some of the merchandise on display and offered for sale.

Employee impact

Customers desire well-trained and helpful employees. They want to deal with store employees that know where items are in the store and can answer other questions. A store employee should know the main items the store sells and should be continually brought up to date on new merchandise or specials the store is currently marketing. If you run weekly specials the store people should be versed on the special and it’s pricing. Customers should not have to remind people waiting on them that the merchandise has a special price this week. When a customer has to do that every time they shop at your store, they will begin to believe it is on purpose and not an accident.

Employees that are idle should not keep a customer waiting when they are ready to be helped. There is nothing more irritating to a customer than being ignored by the store help. A store owner would be wise to get a report by a secret shopper of their experience with the store. Being aware of what is happening in the store is part of good management. Never assume all is well as many owners are the last to know what is really going on between the customer and the store employee. Customers will complain by not coming back and you will never know they feel mistreated. Not being helped by a knowledgeable employee is a common complaint by store customers.

Displaying merchandise

The art of displaying merchandise in an attractive manner is an entire course in retail store management. If items are not seen or displayed properly, you will not sell many of them. Merchandise needs to look fresh and crisp at all times. Shop-warn items should not be displayed except in a bargain section. Impulse items should be on display near the cash out area. Items should be displayed in the appropriate sections. Similar items should be collected in the same area of the store.

Attractive displays also may need special devices so the items can be shown to advantage. Stacking or hiding items is not a good way to get the customer’s attention. When thinking of a display try to get into the customer’s mind and imagine what they will see with the display. If it does not draw attention, it is probably not doing the job. Eye level or slightly lower is the optimum position to show specials. Signs and placards are another way to grab the customer’s eye.

Newspaper ads, TV and radio will help to get them in the store, but the displays are what sells the merchandise. It is a terrible waste of money to get customers to come to your store, only to walk out when they cannot find what they came in to see. Putting the customer first in your ideas will help you make the correct display decisions.

Ordering

Ordering in a timely manner needs to be automated some how. Inventory levels need to be monitored and kept at the right level at all times. Being out of sought after items just sends the customer to another store. The store owner and the store manager should be aware of inventory all the time. This is a prime area of responsibility in running the store correctly.

Other business concerns

A retail business has to operate like any other business as far as sales tax, payroll taxes and quarterly reports to meet state and federal requirements. This part of the business is like many other businesses and is just part of owning a business. Time must be scheduled for these activities or hire it out to an expert on a part time basis. For some owners this is the best way to handle this needed function. There are dates that must be met and these reports must be filed on time. Hiring this out may solve this problem with expert help.

Advertising is another area that needs to be considered in the retail business. What is done in this area is related to the items sold. How often it is needed and the type will depend on the business. This can also be contracted out, but it must be kept under control, as it is easy to buy more than is useful. An experienced ad agency may be needed for a while until the business can become stable. This is a learning situation and what works must be found.

Conclusions

Location, location, and location is the critical factor in every retail business. Walk by traffic or car traffic is needed to be successful in the retail business. Once this factor is covered, the merchandising and employee management can be put in place. If people do not come in the store, then it will not matter what you do as far as employees or merchandise is concerned.

Excellent customer treatment is the result of well-trained employees and does not happen automatically. This has to be part of the planning by the management. Trained employees help to bring back customers and make them the best customers of all. A repeat customer is worth a great deal of money over time. Also repeat customers will refer other people to your store. This is word of mouth advertising that all business want, but have to earn the hard way.

Displays need to be eye catching and help to sell the product. Posters and placards can be used to direct attention. Once the customer is through the door, you have a chance to make a sale. A successful retail store puts all of these factors together.

 

Start a Spa Business

The other way to get into the business is to start a brand new business. This will cost somewhere near what you would pay for a similar type of spa business, except for the value of their existing clientele. The advantage to the existing business purchase versus the brand new start-up is the existing customer base and the immediate cash flow. There are many types of spa businesses and the cost of the one you would like to own will depend on the type you choose. A resort type spa for example will probably cost far more than a day spa or a distributor of spas. The services that you offer will also show up in the cost of the spa. Service usually means the need for employees to provide the service. Employees have an on going monthly cost that does not go away whether you are busy or not. Other services may be equipment dependent and therefore you have the equipment cost and the maintenance expense.

A distributorship will have its own unique costs and expenses. A show room is almost mandatory to run the business correctly. You cannot sell spas without demonstrating them. This will entail a building set up to do just this and a different set of employees to pull off this type of business. Salesmen and people persons are going to be important factors in all of these businesses. Solid sales people are a necessity in selling spas to the public. This is a luxury item, not a necessity of life.

Which spa business for you and how to find them

As stated above the Internet is a great way to start looking for businesses that are up for sale. This will give you a good idea of the difficulty in finding one that is in the area of the spa business that catches your fancy. These listings will also let you know if there are businesses in your local. Talk with spa owners and business brokers to get an idea of the opportunities that are available in the spa business. Visit day spas and resort spas to see how they are run and the services they offer to their clients. Ask them if they know of any businesses for sale. You never know where you will get a solid lead. The business broker will have answers for some of your questions and will know where to find the answers he does not know off of the top of his head. An experienced broker may have already helped with the sale of the type of spa business that you are favoring. This part of the discovery process is like being a good detective. Let the facts and the leads get you where you can see the answers to your growing question list. Spending the needed time on this part of business buying will help in many ways. You will become better versed on what is available and the prices that different businesses command. You will also soon discover whether you can buy an existing business or have to start one from the ground up. This will help to determine the money needed and how you can come up with the purchase price or start-up price.

I have the money or I can get it

You have to be able to say the above in order to buy an existing business or start one up. The cost in this niche business will depend on the selected area of the spa business. Once you have selected the spa business you wish to own, then you must find one for sale or start one up. Both of these will have prices that you can afford or can get financing for. Raising the total price may take some creative financing on your part. The current owner may be willing to accept terms to enable the purchase. Other areas that may loan you the money you need are the bank, relatives, loan from a business lender and a loan on assets you own.

One way or another you will need to come up with the total price. If the current owner is involved, be prepared to pay a premium for the business. Most owners have a cash price and a higher terms price. The problem with this is can you afford the business and still have enough capital to run the business. If the answer is yes, then all is okay. If this is not the case, maybe the potential buyer may need to pass for the time being. Knowing when to pass by an opportunity may be just as important as making the decision to buy.

Maybe in this business, you can select a less costly avenue to get into the spa business. You have several ways to go and if one road is closed then there may be another way to go. The point of this is do not strap yourself financially to buy a business and make success more difficult or impossible to obtain. A buyer must make realistic judgments. Viewing these decisions through rose-colored glasses can be a serious error.

Conclusions

The multi-faceted spa world offers several types of businesses to consider owning and running. Some take a large capital commitment and some are far more reasonable in their money requirement. The choice is yours based on your interest and the money you can bring to the table.

An area not previously mentioned is the franchise spa company. This area should be looked at as a possibility. There are some advantages to being connected to a spa company with a nationwide reputation and advertising campaign.

Financing in this business category is not much different than what is needed in other business purchases or start-up cost. Some versions are capital intensive and some do not take anywhere the same money commitment. Finding the right business for you in the correct segment of the industry will take study and comparing the chances of a successful ownership.

The suggestion is to talk with business brokers to see what they have for sale and the money needed to make the purchase. They are a great source of good information and current trends or developments. The experience they have and the sources they can call upon will be of help in getting answers to your questions. Knowing answers will help you make far better decisions and thoughtful changes in your plans.

Start a Day Care Center

The opportunity that is available to a Day Care Center is very high these days, as more and more Mothers are working outside of the home. They need someone to watch their child or children. This need is growing every year, as more and more families become two income families. This demand is making Day Care Centers a scarce resource and there is a need in many cities for more quality centers. This growing demand makes starting a center a truly good idea also.

Check out with a business broker

A business broker will probably know what is available in your area and at what price. On the Internet you can find other brokers and maybe get more of a feel for what the existing care centers are selling for. If they have ever sold one or been a party to buying one, they may know some of the requirements to own and run a Day Care Center. A good business broker is a good source for information and details about a Child Care Center.

It is often a very good idea to have a business broker on your side when looking to buy a business. They are aware of what the market will bare and the businesses that are ready to be moved quickly if the offer is solid. They may know a great deal about the business if they have sold one like it before. In any event they can get answers to just about any question you can come up with.

An experienced broker can be invaluable in finding the best deal and terms for you. This service can be worth far more than what it will cost in commissions or advisory fees. If they do not know the legal requirements in this case, they will know exactly where to find them.

Money needed Money found

It is not unusual for a buyer to need money to complete the deal. Many buyers get the needed money from the old owner who carries back some paper on the sale. Others borrow it from friends and family. Some get it from banks and others get it from other loan sources. There are businesses that advertise on the Internet that they will make business loans of this type. There are several places a buyer with good credit can find money to complete the purchase of a successful business. A profitable business is a terrific asset as it has real value plus it generates cash flow. This is why the Internet companies will make loans to facilitate the purchase of a solid business.

If you get money from the owner you will probably need to pay a higher price for the company. The price goes down for cash and up for partial cash.

A start-up may be the answer

A start-up care center is much cheaper to start since you will not be paying for the customers of the existing business. But you will have to advertise to let Mothers in your area know that you are open for taking on new children. Since there is a demand for businesses like this, you will probably be able to get a good start once you are open for business. You must make sure that you meet all of the requirements of your state for this type of business. These requirements are fairly stringent in most states. But you must make sure you meet them, as the fines for not doing it are substantial. The equipment needed for this business is not that costly and can be purchased as needed. The first problem after deciding where to run your business from is finding customer’s that need your service. This is a deeply oriented customer business. People are very careful with their children and you need to make them feel very comfortable that your company will care for them as they would themselves.

If you buy another person’s care center

You need to be sure that the clients will stay with you and become your clients. You will pay for cash flow when you buy an existing business. Just make sure it stays with you for a specific period of time. This can be put in the contract and would affect the price for the existing business. Also the business would be more valuable if it could be easily expanded. These are just two factors that should be looked at very carefully when buying a business in this category. Make sure the cash flow will easily cover any loans needed to make the purchase. What would the cost of help be and is it hard to find. Ask the business broker if there are other factors that you should be aware of in this field.

Also ask the owner if he would share with you any ideas he has to increase the business and make it more profitable. All information that you do not know will help you make a better decision about buying and running the business. Remember you will be dealing with Mothers and their closest love, their children.

Conclusions

This business type is in serious demand by families looking for quality places to put their children. They need to be safe and well run by people who like and care about children. If this is you, this business may be exactly what you are looking for. If you have the money you can look into buying an existing business or you can start your own from the beginning. Either way the treatment of existing customers will generate more clients if you get good referrals. Excellent care of your clients children will help you obtain replacements and new clients by recommendations. There are many ways to gain more money in this business. You can offer extended hours or have a larger place that can handle more children. You may need more help, but the math will make this an easy decision.

Longer hours will mean more help, but this may be worthwhile if you can get added money for the extended hours. Teaching numbers and letters can be a plus benefit that is worth more to some parents. The ability to make the children happy with their environment will go along way toward keeping the parents happy with your service.