So, you identified and purchased an established, profitable, self-sufficient business or franchise that suits your lifestyle – GREAT! But what’s next? This is a crucial question. Most buyers expect a seller to help during the transition of ownership anywhere from 3 – 6 months (depending on how big the business or franchise is) however, as the new owner what can you do in the first 90 days? Here are my thoughts:
When considering starting a business, many people think about the process it takes – formulating the idea, then growing it from its grassroots to a reputable and profitable business. Schmooz started with an idea like this! However, it is important to remember that there are lots of opportunities to become an entrepreneur; you can Continue reading “Questions to Ask when Buying (or Selling) a Business”
Most people know Brian Scudamore for his creative marketing ads that have become hugely successful in attracting clients, franchisees and fans. However, little know about the sacrifice and hard work Brian Scudamore has put forth to turn $700 and a pick-up truck into a $250 million empire. Continue reading “The King of Franchisors, Brian Scudamore: What Makes a Good Franchisee?”
In the next 5 years more than a half of million baby boomers are set to retire and sell their business. Many of these baby boomers have no succession plans in place or are faced with family succession that does not fit the vision or goals of the successor. Continue reading “7 Typical Mistakes When Trying to Sell Your Company”
There are unlimited types of characters in our professional lives.
There’s the guy who hates his job and complains to everyone about it, but never does anything to change it. The lady who always wants to start a new business with you but her ideas really aren’t that good. Or the young man who flaunts his entrepreneurial flag because he launched a company, but he’s really just an employee at his own business. Continue reading “The 4 Types Of People Who Never Succeed In Business”