Those who seek for a home business opportunity but don’t have a burning idea or specific dream in mind might want to capitalize on someone else’s proven dream. Franchising may be one possibility of doing this. The disadvantages of franchising may dissuade an entrepreneur from this choice. If his or her dream of a work from home business is the idea of being her or his own boss, the restrictions placed on franchisee decisions by the franchisor may make the idea very unattractive.
There is another option, a way to have a work from home business opportunity but still have the security of a proven market and product or service. This is by buying an already established privately owned business.
The key to making someone else’s entrepreneurial success a profitable home business opportunity, is doing proper and thorough research.
The best place to start may be on the Internet via sites that advertise Businesses for Sale. You can also check out the local paper online or in print or enlist the services of retailers. Keep in mind that most businesses listed with realtors are going to be brick and mortar locations that wont fulfill a dream of a work from home business.
A thorough review of the finances of any business that the entrepreneur is considering for purchase is a must. Income statements should be examined, as well as statements of cash flow and balance sheets. The potential buyer must keep in mind that liabilities are crucial, as typically she or he would inherit these debts when saying yes to the opportunity to buy this home business. An accountant who specializes in the particular industry would be a great deal of help with this part of the study of the various home business opportunities being considered.
A business owner who is selling his or her business opportunity should supply potential buyers with a due diligence package. This should contain not only tax returns for prior years but any significant contractual obligations the business has entered into including property leases. Contractor or employee agreements should be a part of the package as well. Articles of incorporations and any lawsuit should be included.
Anyone taking a serious look at a work from home business opportunity for sale should also get the company’s credit report before making a decision.
Work at home opportunities aren’t nearly as dependent on the right job tasks as they are dependent on the right workers. Not everyone has the right temperament for telework. A smart supervisor allows someone who requests a work at home opportunity to complete a self assessment first. This self assessment may let that worker know that she or he is better off working in the office with others.
To Your Success,