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Buying a Fitness Business in Florida

Buying a Fitness Business in FloridaBuying a fitness business in Florida can be a very overwhelming process. You need to take care of a number of things including securing a good location, figuring out your budget and the most important, advertising your fitness business to large number of people who want to take part in your fitness services.

It has been proven that buying a fitness business in Florida can turn out to be a profitable exercise in long run, if well planned. Anyone, starting a business related to health and fitness can get significant returns.

Just like any other business, buying a fitness business also requires a systematic approach and proper planning. Apart from knowing the asking rate, sales revenue, and cash flow, there are also other factors which you need to consider when buying a fitness business in Florida.

Know Your Client Base: You need to have sound understanding about your client base for your fitness business. Before buying a fitness business in Florida, you should know who your ideal client is, where they live, what they listen to, read, and watch, what they need and how much they earn. Having this information before buying a fitness business will help you to direct your marketing efforts to attract more clients and grow your business.

Proper Certification: Before buying a fitness business in Florida, see to it that you have the proper certification required to run a fitness business. Also, complete all the formalities as per the rules of the location in which you are planning to start your business.

Staff: It is advisable to recruit well trained and experienced staff. You need to have a knowledgeable staff to answer customer questions. The staff should be well acquainted with the use of different equipment and their benefits while exercising.

Location: This is the main thing, which you need to consider when buying a fitness business. Look to see if the business you are going to buy is properly located. That is, look whether you will be able to communicate and supervise your fitness business. If you are planning to open a home based fitness business then look for a room that has proper ventilation. When buying an existing fitness business, check for property information that includes lease terms, lease hold rent, premise details, size of the area and so on.

Expansion Potential: Before buying a fitness business, it is advisable that you always look at its expansion potential. Plan in advance on how you will expand your Florida fitness business. These techniques may include increasing the range of service you offer to your clients. When buying an existing fitness business in Florida, concentrate on how you will sustain the image created by that business.

So how will you expand your fitness business? You can do this simply by selling fitness products, such as DVD’s, apparel, books and so on. Another useful option to grow your business can be to start franchising.

Starting a business of fitness demands research and careful planning. There are different aspects of a fitness business that need to be considered before taking the first step. Florida Business Brokers can help you learn everything you need to know to make informed and wise decisions. If you are thinking of buying a fitness business in Florida, contact Florida Business Brokers.

Selling a Business: Unforeseen Challanges

Unforeseen Challenges When Selling Your Business

Selling a business is a long, tedious process that is full of obstacles. A business owner is at a disadvantage if they try to go it alone. Not only is the owner likely encounter unforeseen challenges, but the business will undoubtedly suffer while they’re trying to juggle all the responsibilities involved in successfully selling a business.

Selling a Business Requires Preparation and Foresight

Selling a business does certainly require preparation and foresight. The successful business seller will have taken several steps to ensure that they are able to find a buyer interested in their venture and that their business presents well. Doing things like claiming all of your earnings, maintaining proper records, increasing sales and improving business operations contribute significantly to selling a business successfully.

Business Owner Excuses

The trouble, however, is that some business owners neglect to take the necessary steps to sell their businesses and then cite the slow economy, new staff, etc. as the reason that they won’t or can’t sell their business.

When is it Time to Sell?

The reality is that it is never a 100% ideal time to sell and there is always something that is not quite perfect prior to listing a business for sale (example: revenue might be off for the latest quarter, the economy may have softened, a key staff member may have resigned, and so on.)

Preparation is Key

Point being, selling a business is a long term decision that requires forethought. Decisions must not be knee jerk otherwise you, as the owner of the business, may never sell your business at all.

If you are selling a business and want to base its value on the tangible assets, please use caution and consult with a reputable business broker or business appraiser.

Your Marketing Plan

There has to be an active marketing plan in place. There is no one size fits all to selling a business. If you want to sell your business as fast as possible, you must first start with finding a business broker that is willing to sign a 90 day selling agreement.

Business Selling Options

Selling a business is a big decision to make. Talk to a business broker to discuss your options and see what works best for you. Simply put, selling a business is complex. Business owners who decide to sell their business should be prepared, patient, responsible, and realistic about the process. When owners strategically plan the sale of their business, from start to finish, they put themselves in a much better position to succeed.

Advantages to Selling a Business

There are many advantages to selling a business. It provides the freedom to live a lifestyle that is free of ownership responsibilities. Selling a business also has financial advantages, allowing the former owner to invest in other ventures. It may also help the seller to capitalize on a high selling price, when economic conditions are right. When selling a business becomes a priority, there are a number of things that should be considered which will help to make it a reality.

Contact Florida Business Brokers for Help. 1-561-234-5678

When Buying A Business, Established Businesses Are Safer Bet

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Buying a business in today’s economic climate requires that you, the buyer, be on the ball, with regard to business basics. This economic climate, as far as businesses are concerned, is a sellers market.

But, there is good news.

You can experience the benefits of buying a business that is already established and skip all of the stress. There are many advantages to this. You will never experience the initial time when you will have to change the plans of how things work and also getting everything set up. If you buy an established business, all of this has already been done for you, so you will not have to do any of it. You can just take over a business that is already running smoothly.

Advantages

Another one of the advantages of buying a business instead of building one on your own is the financial freedom comes right away. You don’t have the problem of going through the time when a business has low profits and high expenses. This time has already been passed by the time the business is being sold, so you will experience profits on a regular basis from your purchase.

Many entrepreneurs have had the dream of owning our own business and leaving the 9 to 5 corporate grind. Perhaps you have seen one of those magazines at your local market that lists different franchises and business opportunities to invest in. One of the most common roadblocks potential entrepreneurs run into is that buying a business, especially an established one with a proven track record of success requires a lot of capital.

Florida Business Brokers is ready to help make your dream a reality.

Sometimes you will be lucky

If you buy the right business, you will experience all of the benefits of buying a business that almost runs itself. This is a rare thing, but if you find such a business, it will be a blessing to you and nothing but profit for very little work. That is a dream for many people.

When it comes to buying a business and, especially, if it is a well established one that the owner is selling because he wants to retire and does not have anyone in his family to hand over the reins to, you should consider the pros and the cons, i.e. the advantages and the disadvantages carefully before embarking on this professional journey that is supposed to liberate you financially as well as emotionally (with self confidence).

When you sit down to consider the advantages of buying an already stable business, there can be many.

What matters is the priority of these factors. When you buy an existing business, you are picking up the work of someone else. It may not necessarily be of your own liking. So, would you, as a prospective buyer, want to spend a lot of money for renovation, or area expansion, or staff upgrading or even getting new equipment? Even after spending money on the above mentioned points, what is the guarantee that you would be able to improve the sales over previous years? If you do not consider these factors before buying a business, you could end up buying a business that can take you years to get back to the break-even point. Or worse, you may end up in permanent loss. That being said, as long as the buyer is sure about where they stand on each factor, the buying process goes smoothly.

Buying a business to improve it’s earnings and value can generate significant wealth for small business owners. Business profits can lead to increased value of the business when you sell the business.

By now, you should be ready to begin the exciting adventure that is buying a business in Florida. With the tools and steps set forth above, you should now be ready to act when the right Florida business opportunity presents itself.

Florida Business Brokers can help you find an established business that is perfect for you. Call 1-561-234-5678 Today!

Seller Financing: Is it a Good Idea?

In the tight market of business selling, seller financing gives business owners a chance to sell quickly. But seller financing isn’t for everyone. To know if seller financing is a good choice for you, take a look at these tips.

Today’s business owners often get many lookers into their business for sale but few actually make an offer.

Usually, a lack of offers isn’t the fault of your business, but the buyers’ lack of financing options. This leaves business sellers with two options: reduce the asking price or overcome financing issues by offering seller financing.

Instead of losing potential buyers, some business owners are opting to finance the business sale themselves. This decision is risky, but under the right circumstances it can also be financially beneficial. If seller financing seems like a viable option, don’t take the leap until you read this list of tips on seller financing.

Risk Assessment

Selling a business for cash is relatively risk-free for the seller. After closing, the seller will walk away from the deal with cash in hand. If the business owner finances the sale, he is connected to the business for several years after closing. If the new business owner is successful, the new owner pays the seller with interest and everyone wins. But if the new owner is unable to make a profit, the seller could incur additional expenses in an attempt to collect the debt and may also lose the interest income.

Like all investments, seller financing comes with a certain amount of risk. If you are at ease with investing in the new owner of your business, then seller financing might be the right decision.

Leveraging the Benefits

Many business owners view seller financing as a last-ditch effort to sell the business quickly when they should see it as a way to enhance the profits of the sale.

From the start, seller financing increases the final selling price of the business. Seller financed deals typically result in a 15% increase over the cash price. That means seller financing makes a great bargaining tool when negotiating the terms of the sale.

Another benefit of seller financing is the ability to multiply the profit with interest payments. Seller financing provides a higher rate of return than most investment vehicles.

Advertise Seller Financing

Some sellers hesitate to offer a seller financing option up front because they aren’t totally sure about it and use an offer to finance only if they get pressured during negotiations.

If you aren’t completely comfortable with seller financing, then don’t offer it, not even as a last resort. But if you are comfortable with seller financing, advertise it as a selling point in your marketing strategy.

Down Payment

Asking for a substantial down payment equalizes the risk between buyer and seller.

If you choose to finance the sale of your business, don’t be afraid to ask for a down payment that is no less than one-third of the sale price. Asking for two-thirds of the selling price as a down payment is not unreasonable. Remember, the more you finance, the bigger your risk.

Don’t Do it Alone

Just because you choose to finance the sale of your business, does not mean you have to handle the selling process by yourself.

A loan between buyer and seller calls for many variations in structure, which require professional input in order to secure collateral, devise proper loan terms and obtain adequate insurance terms. Before agreeing to seller financing, obtain advice from legal and financial professionals.

Avoiding Pressure

Many times, business sellers feel pressured into a seller financing deal. No matter how quickly you want to sell, choosing seller financing for the purpose of a quick sale is a huge mistake. If a buyer pressures you too hard for seller financing, it’s time to step back. If you aren’t at ease with financing that buyer, walk away from the deal and wait for a better prospective buyer to come along.