Jul 16, 2022
In Welcome to the Food Forum
Many have been doing this for years and are Job Function Email List experts at what they do. As a new owner, this commodity is invaluable, especially if you don't know much about Job Function Email List the business yet. 4) Established suppliers and credit - Instead of having to prove yourself and your ability to others in order to get accounts set up, Job Function Email List you already have them. 5) Established customers and referral business - The acquisition Job Function Email List will have an established customer base, an asset that can take years to build. Existing licenses and permits - Licenses can be difficult to obtain. And it may Job Function Email List be difficult to learn all that you do need. Existing businesses have learned and instilled what is required. And it turns into a matter of Job Function Email List transferring those into your name. 7) Training by the seller - Very often the seller will help you in the learning process. You benefit from their previous trial and error efforts. Owner can show you the ropes of the business, introduce Job Function Email List you to everybody, and make sure its a smooth transition (especially if they are financing your purchase!) The Owner may provide owner Job Function Email List financing - They can kind of become your bank. It is difficult to find a bank to loan money to a startup. Banks have little or no security Job Function Email List available in a startup. The reality is that owner financing creates "an interested almost partner type relationship" that has a vested interest in your success. Job Function Email List You are on your own- but not really. In startup businesses you are on your own and with all due respect to bankers, I have never been able to view a banker as a partner that Job Function Email List would have hands-on assistance in my efforts.