Oklahoma City, OK (1888PressRelease)
April 15, 2009 - Bill Bartmann, business coach, says buying an existing business requires asking the right questions and researching the industry. What is often discovered during the research is a determining factor in how successful on can be with a specific product or service.
Bill Bartmann, creator of Billionaire Business Systems, an online course of business training materials, continues his series of business lectures comparing buying an existing business to starting from scratch. “When you buy an existing business the start-up work is done. You get an existing business with a proven track record, one with a history, a product or service that has already been tested and marketed, a trained staff of employees and policies and policies and procedures are already in place. You also get the existing customer base; building a customer base is one of the biggest challenges newly established business owners face.”
Bill Bartmann had everyone’s attention as the students wondered what the pitfalls could be. So far, all were convinced that the pros would far outweigh the cons of buying a business.
Bill Bartmann explained the possible pitfalls of buying an existing business as he explained, “One of the main concerns is the risk of suffering from misrepresentation; it is not always in the best interest of the seller to tell you if something is going wrong. This information is very crucial to the purchaser. Remember that people who are selling a business are involved in one of the largest transactions they will be involved in during the course of their life.”
Bill Bartmann advised the group to examine the current and past financial statements, or to seek the help of a professional before making the final decision to buy a business. “Whether you choose to buy an existing business or create a new business, remember to do the necessary research and to educate yourself. This will likely be one of the largest financial transactions that you will be involved in; consider hiring a professional, a CPA, attorney or business consultant to analyze the business and the transaction. This could save you a lot of money in the long run.”
Bill Bartmann has started 7 businesses in 7 industries. Through his business experiences he has learned a lot; Bill Bartmann shares everything he knows about business ownership and success with his online course, Billionaire Business Systems. Sign up for Bill Bartmann’s Business Success course at http://www.billionaireu.com
Contact:
Bill Bartmann
8556-C E 101st Street
Tulsa, OK 74133
918-388-3328
bill ( @ ) billbartmann dot com
This press release was submitted by Right Now Marketing Group, LLC
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