Buying A Retail Business
Learn How To Buy A Highly Profitable Retail Business.
How can you be sure a particular retail business is a worthwhile investment?
The ‘real secret’ to buying a profitable retail business is in knowing the exact strategies to use at each step in the buying process and by conducting an impeccable analysis, review, negotiation and valuation to be certain you pay the right price and terms and uncover any potential problems before you complete the transaction.
Secrets For Buying A Seriously Profitable Retail Business.
It’s great news if you are thinking about buying a retail business. However, just be sure to take your time and do your homework.
Because the fact is, some stores have tons of untapped potential to earn big money in the hands of the right owner. Other stores are simply duds, with no potential. No amount of work will turn them around.
How can you tell the difference? You can start by asking the right questions:
Does the store have unrealized demographic potential?
Perhaps you are looking at an older “mom and pop” food store in a neighborhood that has recently been transformed by the arrival of younger, well-to-do families. If so, you can look at adding some items that address the new demographics. Or maybe you are buying a bicycle store in a wealthy suburb that really should be offering high-end trail bikes and road bikes – not just the plain-Jane selection of mid-price models that are currently on the selling floor. Note that this kind of problem often exists in retail; a Seller has been in place for too long to notice that demographic changes have brought new buyers, with new tastes, into the area.
Is it a good store that has suffered from shoddy supervision or management?
Often, such problems are easy to spot. Perhaps you are considering a store with a great location and good inventory – but an indifferent and hostile sales staff. Or perhaps the Seller is an absentee owner who has never supervised operations sufficiently – and the store went downhill. If such conditions are present, they may offer you the opportunity to boost profits by making quick, pinpointed improvements.
Could technology boost the profit potential?
Are employees spending their time doing manual inventory, labeling products by hand or engaging in activities that can now be handled more cost-effectively by automated equipment? I would suggest doing a careful analysis to find out how many hours – and how much money – automation improvements can provide.
Do vendor relationships need to be reviewed and/or changed?
Effective retailers are constantly on the lookout for new vendors and products– and constantly reviewing the terms offered to them by their current providers. Be sure to ask the Seller who the current vendors are, how long they have been in place – then contact them to negotiate for more favorable terms. Also, be aware that new vendors can offer highly attractive terms to win your business. Signing on with them can give your store a quick boost in cash flow and profitability in your first months of ownership.
Those are only a few nuggets of wisdom about buying a retail business with unrealized potential.
My advice will help you make that call. But take your research to the next level by getting a copy of our special guide, “How To Buy A Good Retail Business At A Great Price©.”
About The Author.
My Name is Richard Parker and I have personally purchased thirteen businesses during my career and built several others from start-up. The information in my programs are based on real-life, hands on experiences. I have provided consultation to thousands of prospective business buyers who have used my materials, attended my seminars, followed my guidance and expertise to buy good businesses in every type of industry you could possibly imagine.
It has taken a lot of time, effort and some painful experiences to develop the tried-and-true formulas that immediately identify a good business. More important is recognizing what particular business is ideal for the individual. Good businesses run by the wrong people quickly turn sour and that’s why so much of our material is devoted to helping each client buy the right business for them.
Expert Consulting And Support At Every Step.
Along with the program you can consult directly with Richard and a team of experts as often as you wish during the business-buying process and there is no additional charge for this service and support.
Our Unconditional Money Back Guarantee.
After you receive the material, if for any reason whatsoever at anytime in the future, you are not 100% satisfied, or if you don’t believe that we have equipped you with all of the skills and knowledge you’ll need to buy the right business, just let us know at any time and we’ll immediately refund your entire purchase price.
No questions asked! No time limits! No hidden clauses! No fine print!
Not only are we going to help you eliminate all of the guesswork from buying a business, we have also removed any risk when you decide to purchase this program.
Why Our Products Are Unique.
The How To Buy A Good Business At A Great Price© series is not a generic introductory book about buying a business. The information provided are proven strategies that work and have been compiled from over one thousand successful business purchases and business for sale analysis and investigations over the past twenty years. This material is for the serious business buyer who realizes that in order to be successful, they must be equipped with specific knowledge and have access to unbiased expert advice to be certain they make all the right decisions.
The materials are laid out in a step-by-step format that mirrors each specific stage of the business-buying process. The program is geared to give the buyer the advantage in the purchase and to eliminate the risks associated with buying a business. As such, the information clearly explains what a business buyer needs to know at each step, what they must do, and exactly how to do it.
Plus, we provide ongoing expert consulting support to assist you at every step.
The materials also include automated valuation spreadsheets, legal agreements, business plan templates, specific language for purchase agreement terms and case studies.
Visit the program’s main page at www.diomoretail.com where you can learn more about this product or make a purchase.
If you have any questions please contact us