An excerpt from my article featured on www.startsatsixty.com.au talking about popping Buyers Goggles on to investigate all the different buying opportunities there are…
Many people think that the typical small businesses offered for sale are only those such as cafes and other food or retail outlets, however almost all types of businesses do come up for sale at some point in time. (There is of course the option of tapping an existing business owner on the shoulder and asking them to consider thinking about selling as well).
I strongly encourage you not to make a decision about starting a business until you have investigated what the market has to offer, to see if there are businesses available within the area that you are interested in. By buying, this will enable you to “jump” into a revenue-generating business and leverage off the hard work already undertaken by someone else.
Unless you are looking at developing and delivering something unique into the market place, or you have previous experience to take a start-up business to a stage where it is profitable in a short time frame, buying an established business will generally be more instant, attractive and financially rewarding.