Veteran? Why Small Business Ownership Is For You

Veterans make great business owners.

 

Your military career trained you for leadership, taught you discipline and gave you the mental endurance to put in the hours it takes to get something done. Guess what? Those are the skills and qualities great entrepreneurs need.

 

 

I’ve never owned a business before. I wouldn’t know where to begin.

 

We’ve got good news – you don’t have to start from scratch. There are a myriad of small businesses for sale, and there’s a good chance that you will be able to find one that fits your goals and one in an industry where you have some practical experience. Buying a business means you don’t have to start from the ground up. You get a fully operating business, complete with employees, equipment, inventory, operating procedures, vendor contracts – you get the idea. You can walk in on day one and be the owner of a business instead of starting with nothing more than an empty space.

 

Am I qualified to own a business?

 

Yes, absolutely! Many of the training programs and careers within the military transfer very well as the experience and practical knowledge needed for many industry sectors in the small business community. The type of business and industry sector that will be right for you will depend a lot on what jobs you did both before and during your time in the service as well as what you hope to get out of business ownership. Love working on cars in your spare time and spent your military career as an aircraft mechanic? Maybe an auto shop is for you. Looking to spend as much time as possible with your family? A bar or restaurant that will need your attention 7 days a week probably isn’t the best choice. Talk to a business broker about your goals and your experience – you might be surprised by the businesses that would meet both.

 

 

I don’t have a lot of money, how much money does it take to buy a business?

 

It depends. There are very small businesses that won’t cost much and larger businesses that run in the millions. The good news is that as a veteran you have special access to programs from the U.S. Small Business Administration (SBA) that can help you get the funding you need to buy a business (click here to learn more!). Talk to your business broker about what SBA programs you might qualify for and what businesses might qualify for SBA lending. If SBA financing is out of the question, many sellers will offer seller financing to the right buyer with a decent down payment.

 

Although it might seem like a daunting idea, small business ownership is very possible for veterans. Talk to a business broker today to explore your options and get you started on the path to entrepreneurship!

 

Are you a veteran and have questions about what SBA programs you would qualify for? Would you like to know what types of businesses would suit your goals and experience? Ask us! Please leave questions or comments here and we would be happy to help. Thank you for your service!

 

 

 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

www.InfinityBusinessBrokers.com

No Comments »




What You Should Know – Selling Your Business: Do I Have To Finance The Sale Of My Business?

Why Is Seller Financing So Important To The Sale Of My Business?

 

Surveys have shown that a seller, who asks for all cash, receives on average only 70 percent of their asking price, while sellers who accept terms receive on average 86 percent of their asking price.  That’s a difference of 16 percent!  In many cases, businesses that are listed for all cash just don’t sell.  With reasonable terms, however, the chances of selling increase dramatically and the time period from listing to sale greatly decreases.  Most sellers are unaware of how much interest they can receive by financing the sale of their business.  In some cases, it can greatly increase the amount received.  And, again, it tells the buyer that the seller has enough confidence that the business can, indeed, pay for itself.

 

Are you considering selling your business but are hesitant to offer seller financing? Do you have questions about how seller financing would work? Please leave questions or comments here and we would be happy to help.

 

 

 

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

http://www.infinitybusinessbrokers.com

 

No Comments »




Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com

12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907




Search



Recent Posts

Categories

Archives

Tags