BUYER TIPS: In buying a business one point to keep in mind is to have patience and take the time to research the company and the industry itself before you make any offer. 

The Advantages of Buying an Existing Business
 
Many entrepreneurs believe that the only way to own a company is to start a business from scratch. However, while we only seem to hear about the success stories of the Michael Dell's and Bill Gate's of the world, entrepreneurs fail to realize that approximately 60% of new business start-ups fail within the first three years.
 
One alternative that is often overlooked by entrepreneurs is purchasing an existing business. Purchasing an established business has many advantages over a start-up:

• The business has already gone through the tough start-up period
• An established customer base exists
• Trained employees are already in place
• Suppliers are already in place
• Actual operating results, rather than projected results can be reviewed
• Immediate cash flow from the ongoing business activities exists generating immediate income to cover fixed expenses, such as salaries and rent