Lance Hood and Richard Parker Discuss Purchasing an Undervalued Business versus New Business Startup
There are many advantages to purchasing an existing business
(EMAILWIRE.COM, April 27, 2008 ) West Bloomfield, MI--When thinking about purchasing an existing business look for one that is undervalued. An undervalued business is one that is up and running, producing a profit, but it is not living up to its full potential. Investors also look for one that fits their needs, including how much active time is required and whether it is something they are truly interested in and something they are knowledgeable about.
Lance Hood, co-founder of SuccessInsiders.com recently discussed purchasing businesses with expert, Richard Parker. Richard pointed out the many advantages to purchasing an existing business, including immediate cash flow, historical financial data to evaluate the business, trained employees already in place and existing customers. Policies and procedures are already in place; trial and error time is in the past. With a new business, everything is new, there is no telling when cash will begin to flow, competent employees need to be recruited and trained and policies and procedures need to be worked out. A lot of advertising and marketing are necessary to get the word out to the public about what is being made available to them.
The next question Lance asked was about how to find and undervalued business. Richard explained how lots of them exist; the simple answer is to look; check the internet, classifieds, talk to accountants, attorneys and bankers. Network with business owners, attend workshops and seminars where business owners are likely to be found, and just get the word out that you are looking to buy a business. There are at least 10 -13 million small businesses in the United States, so there is no shortage of businesses available.
Since 1990 Richard Parker has bought ten businesses and started several more. He is the author of seven comprehensive programs on how to buy a business and he is a monthly columnist for an investor magazine. Investors and people looking to buy a business can go to http://www.successinsiders.com/ to learn more about Richard Parker ask questions and attend his teleseminars.
SuccessInsiders.com is dedicated and committed to helping people succeed in their personal and business life by providing access to millionaires and experts in wealth creation and personal development through interviews and other resources. With this type of resource, proper application and dedication, the chance of being successful is increased. SuccessInsiders.com will provide the ultimate in training and discovery by providing a team of experts from which people can learn skills in prioritizing and glean information via teleconferences and monthly interviews. SuccessInsiders.com will do whatever it takes to assist anyone on achieving their goal. People from all over the world can benefit from these strategies. This is such a great opportunity for people to expand their horizons by way of modeling someone by reading their books, watching their teaching DVD’s, listening to interviews and much more.
Visit a Team of Experts willing to share their Insider knowledge on how to create wealth in all areas of your life http://www.successinsiders.com/home.html
CONTACT INFORMATION:
Heather Thomas
(641) 715-3900 ext. 7576941
support@successinsiders.com
This Press Release has been submitted by PREasy.com
Research, Investment, Buying Business, Business Brokers, Chambers of Commerce, Making Money, Building Wealth, Business Skills
