What is your American Dream? If it's to own your own business, we may be able to help. Not everyone is cut out to own a business. But for those that have a dream, the experience, and the funds, it can be one of the most rewarding life experiences.
So, should you buy a business a business or start one from scratch? Obviously, starting from scratch may appear enticing because it looks like it requires less capital to start. However, a start up may not generate consistent weekly and monthly profit for several months or not ever at all. A bank will likely not give you a capital loan, so most start-ups are boot-strapped, meaning the owner funds them out of personal finances or borrowing against other assets. Buying an existing business is often the best choice for an experienced business person who wants to strike out on their own. You can get a bank loan for the acquisition and working capital. You get an established customer base, a known physical location, trained employees, existing systems and procedures, and most of all, immediate cashflow day one.