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Selling now! More Small Businesses With rising unemployment (and more redundancies published every day) returning ex-pats (finding it difficult to get jobs here), and strong immigrant flows there must be increasing demand for small business. Already we are seeing small and run-down businesses being snapped up – and even closed down shops. Some of these show little, or no, profits. Conventional wisdom is that business buyers are purchasing the anticipated future profits and that value is a function of future cash flows. Nevertheless, buying a run-down or closed-down business may still be a great investment. We have seen many turnaround successes. The business may have failed previously because the owners lacked the skills, personality, and readiness to do the hard work. And buying an existing business is almost certainly cheaper than setting up a new one from scratch. Plant will be at written-down-value, a lease will be in place, and necessary consents in place. The “musical chairs” theory is alive and well and energetic, entrepreneurial buyers can find that owning your own business is the best investment. |
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