PEAK TIME TO BUY? OR HAVE YOU MISSED THE BOAT?
SECRETS OF SUCCESS
As the end of October gets closer anyone looking to buy a business could be tempted to be thinking that they are better to wait until after Christmas to make any decisions to buy.
Here are a few reasons to do it now and not delay your decision:
The South West thrives during the summer and autumn months, getting set to pick up what can be a big percentage of the revenues in a few months is a great way to kick start your purchase.
Most businesses are just getting their 2017 Financial Statements completed now and thus the latest information is available, wait until March 2018 and thus it is well out of date and may not be updated again until after June, delaying your ability to make a decision.
Can you afford to wait out 4 to 6 months?, if you are between jobs or keen to make the change to self-employment there is never a better time than now.. ..the sooner you get into a business the quicker you make money.
Indicators are that the economy, both in Australia and the Developed World is picking up, this confidence will translate into more demand for businesses and there is always a limited number of quality businesses for sale in the SW at any one time… so get in now, not later.
Interest rates are very low, making the margin between the rate of return of the business and the cost of funds about as wide as it has been in my 14 years as a broker. Put another way rates of return have increased (read prices have softened) but costs to borrow have fallen.
With careful attention to detail for finance and lease assignments it is still very easy to get in well before Christmas and fill your Christmas Stocking with solid profits to kick start your business purchase.
As always , Cheers for now , I am always up for a chat over a coffee so call me anytime if you have any questions on buying or selling a business.