TL;DR: Buying a business with a proven product and market is less risky than a startup, since 90% of start-ups fail. Jaryd Krause says to pick one that fits your financial and lifestyle goals, because it will still take a lot of your time. The USA is well set up for securing loans to buy a business, but present it as a business, since most banks are still wary of online businesses.
Jaryd Krause, founder of Buying On-line Businesses.com provides his insights on how to go into buying online businesses and the keys for making the enterprise successful.
BUYING AN ONLINE BUSINESS – WHAT YOU’LL LEARN
- How it all Started
- Why buy an online business
- Where to look for if you want to hop into buying an online Business
- Using leverage for buyers
- What makes a successful buyer
KEY POINTS
- Buying a business that already has a proven product and market is less risky than starting a business. 90% of start-ups often fail given the competition already in the market.
- There are a lot of brokers for on-line business that one could access. The important thing is to look for a business that is fit to your personal, financial and lifestyle goals.
- Even if you buy a business, it would entail a lot of your time. If your lifestyle goal is to spend more time with your family, then it is better to look for a business that is more in keeping with that goal.
- The USA is quite advanced in terms of ability or secure loans for leverage in buying a business. The important thing is communicating it as a business since most banks are still wary of on-line businesses.
- Seek help when deciding to do a business. There are a lot of organizations right now who could help you through the process and you would not have to do everything by yourself.
80+ in-house specialists across PPC, supply chain, account management and content.
RELEVANT MATERIALS
CONTACT JARYD KRAUSE
Find out more about how you can build an online business and send your messages by visiting the Buying Online Business website. And don’t forget to listen to the Buying Online Business Podcast!
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