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The Right Time to Buy a Business

Motivation, Understanding, and Financial Ability Are Key Factors

Image of a piggy bank with coins scattered around the bank

When does it make good sense to quit your job and use your savings, retirement plan, or credit to buy a business? This is a question that many employees ask themselves on a regular basis.

First Choice Business Brokers receives many calls from people exploring business ownership. Many times, a person wants a business doing something they enjoy that will give them the lifestyle they desire. Many buyers consider purchasing businesses unrelated to their current field of work. There are countless others that never make the call because they don't feel they are financially capable. Yet they are not aware of financing options from third-parties, sellers, or even themselves via their retirement funds. Furthermore, they feel that any remaining income after servicing a loan may be insufficient.

Here are some of the signs that it may be time!

  1. Your job satisfaction usually peaks at lunch time.
  2. Your income is not what you deserve.
  3. Your corporate ladder is a step ladder.
  4. You are tired of relocating and want to stabilize your family.
  5. You dread Monday mornings.

If you can relate to some of these reasons and are ready for a new challenge, call First Choice Business Brokers to learn what it takes to buy a business. Whether you're ready or not, you'll gain the knowledge to prepare for your next move. Are you ready for the challenge?