Some Tips for Buying a Business in Sarasota

You could start your career as an entrepreneur by starting your own business, or you could buy a business. Buying an existing business can be an easier way to step into the entrepreneurship industry. However, you must educate yourself before buying a business to make sure you are not getting in over your head. For tips for buying a business, continue on.

AC Units

What You Need to Know Before Buying an HVAC Business

One of the most longed for systems in a building is a temperature-controlled and air-quality system. Heating, ventilation, and air conditioning (HVAC) systems are used in both commercial and residential buildings. HVAC systems are in high demand year-round. If you are thinking of buying an HVAC business, this is an excellent industry to get into. However, there are some things you should know before making this purchase. Read on to learn what you need to know before buying an HVAC business.

Sarasota Business Broker

What Should You Evaluate When Buying a Business?

Buying or selling a business can be extremely difficult, and in all honesty, incredibly frustrating as well. There are so many legal stipulations, negotiations, and various other things that go along with such a monumental arrangement that many people end up costing themselves countless sums of money because they were either unaware of certain opportunities or they simply wanted the process to be over with.

Buying a Restaurant? Avoid These Mistakes

The pandemic has been lethal on restaurants since March, with thousands of restaurants closing around the country. With all of the uncertainty, you might see a bit of good news and daylight. Your favorite restaurant in your favorite location might be on sale. However, before you jump into that amazing deal, there are a few things you need to think about first.

Mistakes to Avoid When Buying a Restaurant

The first thing you need to do when you are considering buying a restaurant is to check the lease. Many restaurants you might be looking at lease their buildings instead of buying them. You need to really read the lease so that you know the terms and qualifications upfront. If possible, meet with the landlord or the property management company to discuss the lease before you buy it.

Second, have the equipment in the kitchen inspected by a professional. If the restaurant has been running on outdated equipment, you don’t want to find that out after you’ve bought the business. If you get it inspected, you will know upfront what the kitchen can handle.

You need to check the reputation of the business as well. Are there lots of health code violations? What does their rating on Yelp and Google look like? You don’t want to buy a business with a horrible reputation that you then try and solve with the “Under New Management” banner, because that rarely works.

In short, if you do your homework ahead of time, you’ll be able to buy a restaurant that you can turn into something special.

When you’re ready to buy or sell a business, we hope you’ll give Hallmark Business Brokers a call at 941-445-4726, or come by and see us at 230 S Tamiami Trail, Suite 2, in Venice.

Sarasota Seasonal Employees

Starting a Business vs. Buying a Franchise

If you are considering going into business you may be wondering whether it makes more sense to start a business from scratch, buy an existing business, or buy a franchise from an existing entity. Although the lure may be strong to start your own business, the reality is that about two-thirds of all new businesses will fail over time. Let’s look at the pros and cons of each as well as potential pitfalls.

Selling a Business

Is an SBA Loan Best for Buying a Buiness?

This may not seem like the best time to buy a business, but there are a lot of people who buy and make businesses successful during the most trying of times. Many great businesses were founded during the worst times, such as the Great Depression. If you are looking to buy a business, you may want to think about a Small Business Administration (SBA) Loan. However, is that the best thing you can find to buy a business? We have some thoughts.

Sometimes Buying an Existing Business Beats Starting from Scratch!

Starting a new business is always a stressful time. All new owners wonder if their market research was adequate, did they develop the right business plan, do they have a recession-proof business and so on. Buying an existing business might be a better choice than trying to start from scratch, and Hallmark Business Brokers can help make that happen. Here are four reasons it may be a better choice to purchase an existing business: