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Archive for the ‘Business For Sale’ Category

A quick survey of Oakville’s business environment

If you are looking to purchase a business for sale in Oakville, Ontario there are many wonderful elements of the town’s dynamic economy to think about, prior to making your business purchase.  This article will briefly survey the Oakville, Ontario business climate to help you in your assessment for buying a business.  There are many businesses for sale in Oakville.  But as a buyer, how well do you know the Oakville economic dynamic?

Lakeshore

The town of Oakville is a large town with a diverse economy, educated residents and fabulous institutions.  However, most people will agree that the ‘crown jewel’ of Oakville remains the Lakeshore corridor.  If you are looking for businesses for sale in Oakville along Lakeshore in downtown Oakville you may find steep competition from other business buyers.  Oakville’s downtown is a ‘destination spot’ meaning that it draws visitors from far away to the picturesque boutiques, restaurants, retail establishments and other specialty stores.  The well-heeled residents of downtown Oakville are very ‘retail friendly’ so there is no shortage of vendors aiming to service their needs.  If you are looking for a business for sale in Oakville’s downtown you must ensure that it ‘fits’ in with the expectations of the current customer base and that you make careful consideration of the possible seasonal aspect (traffic is usually much higher in spring & summer) as well as high rents and stiff competition.

Location & Fast Paced

Oakville is strategically located between Hamilton and Toronto.  The town’s geographic position has been a driving force for the area for several years.  Because of this, the town has evolved into somewhat of a bedroom community, with a high proportion of residents commuting to work to Toronto, Mississauga, etc.  The morning commute in Oakville is very fast paced with most roads leading to the GO stations quite busy.  The morning and evening commute in Oakville is very much hustle & bustle.  If you are considering a business for sale in Oakville, you may be wise to consider the transient base of the town and think about business opportunities that may service this part of the population.  There are several coffee shops and food franchise businesses that are thriving in Oakville due to this.  The fast-paced commuting residents of Oakville have also been a boon to other establishments such as dry cleans, take-out establishments and service-based businesses.

If you are considering buying an Oakville business, perhaps the location and fast-paced residents may impact your decision making?

Sub-Urban

As mentioned earlier, due to Oakville’s location, the town has evolved into something of a bedroom community.  A vast proportion of the town is ‘suburban’ living.  The implication is that this type of consumer has very defined tastes and needs.  The businesses that will be successful in downtown Toronto may not be the ones that will be successful in Glen Abbey or River Oaks.  The point is, if you are looking to buy a business for sale in Oakville, think about the specific needs of the town and what makes it unique – and try to cater to that element.

The purpose of this article is a (very) brief survey of some different aspects of Oakville’s business environment.  The point is that the town is quite large and has many different elements at play that a successful entrepreneur will identify and serve.

Good luck with your search to find the right business for sale in Oakville!

Are you looking at a computer business for sale and wondering if you should buy it?   Before you invest a large amount of capital to buy an existing computer business, you should consider the many benefits of starting your own computer business from scratch. Not only will the initial start-up costs be much lower, but you may also find a great deal more freedom in managing the growth and direction of your computer business. 

The following 4 pieces of advice can help you decide whether to buy a computer business for sale, or go in your own direction.

1) Running a Computer Business Requires a Lot of Time. Whether you buy an existing computer business for sale, or start your own company, you will have to invest significant time and energy into building it up. You will have to go to a lot of meetings and shake a lot of hands in networking situations. You will have to make follow-up phone calls. You will have to plan display ads, direct mailings and targeted marketing campaigns. But more importantly, you need to be prepared to call on potential clients and establish real relationships. Because of the amount of time required to start any computer business, you need to be realistic about what it will take to get yours going.

2) Buying a Computer Business for Sale Requires a Lot of Start-Up Capital. Buying an existing business can be very capital intensive. To buy even a small, thriving computer business, you could spend anywhere from a few hundred thousand dollars to a few million dollars. Expect to invest some multiple of past annual sales. The capital investment of buying a computer business for sale is one of the biggest reasons you need to be very careful and take your time before jumping into it.

3) There Are No Guarantees with Buying a Computer Business for Sale. Just because you are buying an existing computer business that already has clients does not mean you don’t have to do any work on networking, marketing and building relationships. You will need to maintain trust among existing clients and build your own relationships with them as the new owner. You will also have to continue to keep your sales funnel full with targeted marketing campaigns, valuable networking opportunities and other relationship-building efforts.

4) Know What it Costs to Start Your Own Computer Business. Before you buy a computer business for sale, you should know the start-up costs involved in starting your own computer business from scratch. You can start your own computer business for generally as little as a few thousand dollars. What will you need? You need a business phone number, voice mail, a cell phone, business cards, legal licensing registrations, and insurance. And you will want to meet with an attorney and an accountant, so you be prepared to invest in professional services to get your company started. A major benefit of starting your own computer business is that in most cases, you can get started working out of your home office. While the time investment will be similar,  you will have far fewer start-up costs when building a computer business from scratch than if you buy a computer business for sale.

In this short article, we discussed 4 tips to help you decide whether or not to buy a computer business for sale, so you know your options and exactly what is in store for you. Learn more about how you can get great, steady, high-paying clients for your computer business now at http://www.DontBuyAComputerBusinessForSale.com  

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Some Issues with Selling a Business in Canada’s Largest City

Many business owners looking to list a business for sale in Toronto deal with somewhat of a paradox.   The city of Toronto, Ontario is a bustling metropolis, filled with opportunity and it attracts numerous immigrant investors every year.  Yet some owners looking to sell a business state that they have trouble selling their small businesses in Toronto – Canada’s largest city.  This article will explore some of the reasons why company owners may list a business for sale in Toronto and have trouble finding a buyer.

There are consequences to not dealing with a professional

Listing a business for sale in Toronto is an entirely different process than selling a piece of real estate. Yet, some business owners looking to sell still choose to deal with salespeople that sell real estate.  The consequences can be that the business sales process goes awry and business for sale don’t attract the right Toronto buyers and the companies languish on the market.  If you are looking to sell your company (especially in a city as competitive as Toronto) then choose to deal with the professional that can properly assist you.

The business for sale is not priced properly

If you are looking to sell a small business, it is critical that you go to market with it being properly priced.  This is especially true if you’re in Toronto.  Selling a business in Toronto is not an easy task.  True, there are many immigrant investors that are attracted to the GTA and there are plenty of buyers – but there are plenty of sellers too.  Finding the right buyer for your business for sale Toronto is difficult enough so don’t make the take even more difficult by overpricing the business.  Owners that list their business too high generally don’t attract as many buyers as they could and the business gets ‘market stale’.  If you want to sell your business and attract qualified buyers from around the city, work with a professional that can assist you in the business sales process.

Please, report all your earnings!

Many small business owners in Toronto make the common (and highly unadvisable) mistake of not claiming some or all of their cash earnings from their companies.  There are many businesses for sale in Toronto where the owners have done this and believe that they have ‘saved’.  Besides this being a very big ‘no-no’ from CCRA, there is another cost involved to the small business seller.  Generally, small businesses are valued based on a multiple of earnings.  If ‘cash’ earnings of a small business are not reported then the business valuation is then that much smaller.  So, if a business owner believes he or she is saving in income taxes avoided, the truth is that they’ve made their business valuation that much tougher to justify.  As well, business buyers generally get a big ‘red flag’ when they encounter a business for sale that has an undeclared ‘cash’ component to it.  They are much more difficult to get financing for (if at all).  Honesty truly is the best policy.

Perhaps Toronto buyers are willing… but are they able?

Often, a potential business buyer will embark on a search for a business for sale in Toronto without the right forethought into the process… and what type of business they would like to own.  For instance, there are many restaurants, laundromats, gas stations and retail establishments for sale and a potential pool of buyers for these types of businesses.  The trouble is, are these potential buyers truly ready to own a dry cleaner or a printing shop?  To paraphrase an old saying, “the will is there, but not the skill”.  This is a common occurrence in Toronto where a large group of new investors and business buyers want to “go into business” but truly aren’t prepared for the challenges this involved.  The point is, if you want to sell your Toronto business it is important to properly qualify the buyer.  Most people believe that this is merely a financial exercise but a professional business brokers will tell you otherwise.