Starting a business is one of the few ways the majority of people do to escape their usual 9 to 5 routine. As a matter of fact, more than half of the population of people aged 20 to 27 years old look into this.
There are a lot of questions about this and in fact, no one seems to have an exact answer. Questions like: How much money do you need to start a business? What’s the first step you can do? Are there shortcuts?
Answering those questions could be tricky; all of them doesn’t have an exact straight answer. In fact the answers would lie depending on the situation.
Starting a business
I’m pretty sure that all of us have heard the saying “you don’t need to be rich when starting a business” which is part true and part false. The true part is you really don’t have to be rich if you plan on starting a business; the false part is – you would need money.
Money that can be yours or not; money that you can use to jumpstart your business, plunging it into the market.
Not to break your thought but did you know that instead of starting a business – you can actually purchase one? Yes, there are businesses for sale and there are thousands of them.
Businesses for sale: Overview
Have you ever heard of stockbrokers? Yes, the types of people you saw when you watched the movie The Wolf of Wall Street. Those are real estate brokers. But have you ever heard of a business broker? Apparently, business brokers are now a thing.
Business brokers, akin to what stockbrokers are, are people who help clients find the best business that suits them. They sell businesses and here in the Philippines, that might sound unorthodox.
Try Googling businesses for sale and tell us what you find – you’ll find listings of different companies offering different businesses with a decent price tag. One of which, and in fact, one of the most popular would be Link Business.
Link Business is one of the few platforms of business sales in the country. They recently opened a branch in the Philippines; and they have a website dedicated for it, too!
Link Business is just one of the companies who are part of the demographic that sells businesses to people. You can access their website here and you’ll see how the business selling goes.
In the company, there are a total of 500+ business brokers; about 3,000 businesses for sale, 250,000 active business buyers, and about $2 million worth of businesses – and it’s all on their website.
Link Business PH Chief Operating Officer (COO) Efren Pascua said that aspiring business owners and those who are planning on selling their business now have an avenue where they can transact, communicate, and even process the selling and buying of businesses.
It’s about time for business owners and for those who want to own a business to have access to a confidential, reliable, robust process of buying and buying businesses.”
What You can Find with Link Business
In order for you not to waste your time, we’ll give you a sneak peek of what’s inside Link Business. You can access their website at https://linkbusiness.ph. From there, you’ll see the open fields:
- Keyword/ID No./Broker Name
- Business Category
Clicking on the Advanced Search button will open the following:
- Sub Locations
- Sub Categories
- Price Range (From and To)
- Profit (From and To)
- Sale (From and To)
If you are already like what you see, we’ll give you an easy way in by clicking here to register. From there, you may be able to get your ID.
NOTE: We are not, in any way, affiliated with Link Business. We just came across their platform and thought that it’s nice to share to people, especially those who want to have their own business.
Advantages of buying and purchasing businesses
Starting a business is good and it is, at the same time, rewarding. However, buying a business can be better especially if you’re aware how you can make it or help it become successful.
There are certain advantages that are in accordance to business buying. Here are some of the main and biggest pros of purchasing and buying a business.
Saving a lot of time
When you start a business, you would be required to think about a lot of things including the licenses, some of the fees, and even registering the business for it to be legitimate. When you buy a business, you wouldn’t have to go through that anymore; unless of course, it’s renewal time.
No more premature start-up difficulties
A lot of entrepreneurs say that the startup stage of a business is the most difficult and the most complicated. This is the phase where the business would be in need of funds and such.
When you purchase a business, you’re already free from all these; all you’d have to do is to properly manage it so that it can grow and prosper. No need for you to go through the early stage of business stress!
Easier time to comprehend
When a business is already established, it’s going to be easier to comprehend and understand. The business that is for sale already has financial history and transactions so it’s going to be easier what to expect.
From here, you can easily position applying for loans, hiring more people, and even expanding.
You get the people
People who could be part of the business could share their thoughts and best practices to you. In contrast to what most people believe in, business owners aren’t the only people who are well-versed with their businesses; also their people.
There could be employees and managers who got retained. They can tell you a thing or two about how the business works and who knows? This might be the answer you are looking for.
Businesses for sale is one of the things that arouses a lot of entrepreneurs. The simple fact that an already-established business is on the market; it’s definitely something you’d want to try.
Along with those advantages, there are certain disadvantages of purchasing businesses as well. Some of them are:
Might be costly
There are businesses that are sold because of the fact that the previous owner is not willing to take any more risks for it. That being said, when you purchase the business, you might need to make big investments to it for it to keep going.
Though these scenarios are rather rare, it’s never impossible for a business to be so disregarded to the fact that one major factor that can fix it would be a big investment.
Similar to the first disadvantage, there might be some businesses that have been poorly managed to the fact that it’s not operating properly anymore; no matter what action you take, it’s never going to be fine.
This is one thing original owners have an advantage of because they might know the business like the back of their palm.
The same way as poorly managed, there are businesses for sale that are sold because of the fact that their location is not that great. In fact, this is one of the many reasons why businesses fail.
Although you now have the upper hand to the business, you have the option of relocating it to somewhere else.
As you can see, there are disadvantages to buying businesses as well. And as we always say – businesses aren’t always rainbows and butterflies.
But why do entrepreneurs sell their business?
You might be wondering why business owners decide to put the business they’ve grown with in the market. Well, Leopold Gumaru, a business broker of Link Business PH, said that one of the primary reasons that push these entrepreneurs to sell their business is usually because of mere practical problems.
Part of the many reasons include:
- Focusing on other ventures and businesses
- Gain capital to start another business
- To let go of operations
- They can’t handle it anymore
The industry dominating the market of Link Business PH, as per Gumaru are businesses in the Food and Beverage (F&B) industry. These would be regular food hubs, cafes, restaurants, and even bars.
These businesses are what’s topping the charts of Link Business so if you are in a position of looking to acquire businesses of this kind, then you might want to check out their website.
Other than Link Business PH, there are other websites that provide listings of different businesses. Link Business PH is just one of the best in terms of how the website is put, how the businesses are classified, and how their brokers are educated.
Are you interested in these businesses for sale? Have you had an inch in your heart about purchasing a business? Are you more comfortable in purchasing an already-existing business than starting one?
Then Link Business PH is a perfect platform for you to meet what you need! Over 3,000 businesses are listed there. Shop around!