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Monthly Archives: January 2017

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.

 

Start an Auto Business Tips

The business types that fit into these categories have significant differences in start up cost. A new car dealership will cost more to buy than a small repair shop. A used car dealership may have a lower start up cost than a large multi-bay repair shop. A brand name muffler shop can have a large price tag if started from scratch. With these money considerations a person that wants to own a business in the auto field must be realistic about those areas they can afford to start or buy. There is a huge difference in the price tag of these different operations. The prospective owner of one of these businesses must make an early decision of what they can afford that they also would like to do. If is not logical that a non-mechanic would do well in with a repair shop. A non-sales person is not likely to own a car dealership. The point is that personal traits, likes and dislikes will lead a person to the likely businesses that they should consider.

How do you find auto businesses are for sale

Business brokers as a group are very good sources of businesses that are on the market. There are brokers that specialize in certain types of business, who would be very good people to contact about auto related businesses. The Internet is an excellent source for finding brokers and businesses that are for sale. Any large city is going to have brokers that specialize in buying and selling existing businesses. Brand name auto related businesses could also be contacted to see where and what they have to offer. If you have a passion for hot cars or just making them run right, maybe a car repair shop or a custom car shop could be your cup of tea. The cost to start one of these shops would be less than a new car dealership. On the other hand if you are a terrific sales person, a car sales company either new or used would be a logical choice if you have the money to buy one or get a new one off the ground. There are brokers and brand name auto companies that could help you find the answers you need for this niche area of the auto business. One other factor that must be looked into is there are many types of used car businesses. There are companies that only carry certain brands and there are businesses that restore certain cars. The variations which are found within the auto related entities is so profuse, that a person would be wise to see a list of all of the businesses in the area they wish to work. There are just so many possibilities that a person may consider when looking for a business to own.

If you have the money, the old owner will have the time

If you have the money, the old owner will have the time to listen to your offer to buy their business. This does not mean that you have all of the cash yourself, it just means that you can make a cash deal happen. I f you can get pre-approved for a credit line or loan, you can get a better price typically with a cash price offer. Most sellers will lower the price if they can be totally cashed out at the time of sale. If they do have to carry back paper, the price will be higher than an all cash deal. Using the sources that are easily found on the Net can help arrange this loan. By using a good search engine to find companies that make loans to buy a business, you will be surprised at how many sources make these business loans.

Other money sources are partners, friends or relatives. Each of these will have different pros and cons associated with them. Relatives may be willing to make a loan, but they will probably want it to be very short in time. A partner can bring all other sorts of difficulties, as someone has to be the boss. Friends may be okay if they can truly afford the loan. In any event a disinterested third party is the best of all sources if for no other reason than peace of mind.

A substantial down payment may ease the reluctance of the seller to carry back paper. At this point in the sale, it is all about negotiating the deal. Terms can be fair to both parties and that is the way it should be or the deal may ultimately fail. If the seller will not cooperate and the other money sources are not willing to help you, it is time to walk away. Sometimes not doing anything is the best course of action by all concerned. It may be that a year would make all the difference in the world.

This business purchase cries for a broker’s help

Because there are so many aspects to the auto business, this area is one where a knowledgeable broker with solid lists of businesses for sale would be of real help in finding a situation that is perfect for the buyer. They could give a quick over view of what is available in the categories that make up the auto businesses. This could save time and maybe even generate a new idea for a business. This is just one of the many services that a good broker can provide in the search for a business property.

Conclusions

The auto related business is an interesting area of possibilities for the person that wishes to own a business connected to cars. There is an area for just about every interest or personality that wants to earn his or her living in these areas. If you like working on cars or selling cars or caring for cars there is a business for you. It truly is about what you like to do with your time and finding an area that will allow you to enjoy yourself and make money at the same time. Finding a property that fits your interest or your skills is easily accomplished by using an experienced business broker. They will know the businesses in a geographical area that are for sale. They can give you a run down on the prices and the profitability of the businesses on their lists. This is a great time saver and speeds up the gathering of information that you will need to make informed decisions on the business you would consider owning. You may find two or three possibilities and this would be better for you as you could see which would be the best to buy based on many factors. Profit versus price would be a first consideration. You could find whom you could make the best deal with and have the best terms of purchase. And of course that is very important in buying an existing business.

 

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.