Owner Financing and Buying an Existing Small Business Considered

Many people who are out looking for a new job are having a tough time of it, and there is a tremendous number of people who will be running out of unemployment benefits momentarily, even though it appears there will be some extension of unemployment benefits. It's hard to say if the states can continue to pay these unemployment benefits, as many of the states are going broke. These Americans are going to have to find jobs and many of them are taking menial jobs, as they are gainfully underemployed.

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Therefore, more and more of them are looking to either buy a franchise or buy an existing business. There are many franchise owners who are selling their businesses, and there are many small businesses who have had enough and have run through all their savings during the harsh economic times. However, if our economy goes into a nice recovery mode in the near future, this might be the perfect time to buy a business.

Not long ago, I was discussing this with an individual who was looking to buy a business, and he was trying to find a business where the owner would do financing, and he wouldn't have to put very much money down, or try to bother qualifying for a loan. He told me that he was; "Looking primarily for owner financing for the majority of the cost."

Shouldn't be hard in this market and economy, and he has an 9-18 month window judging by the reality of the flow of money, economics, interest rates, and real estate market (if location based). In other words there are lots of deals out there, and since there are very few buyers, and lots of sellers, finding someone who will carry paper and finance their business for the new buyer shouldn't be that difficult at all.

Indeed, I hope you will please consider this if you are thinking about becoming self-employed and owning your own business. This might just be the right time if the economy is going into a full recovery. And whereas, it's too hard to know this for sure, the best time to buy something is at the bottom of the market, that's the best time to get a good deal.

Go ahead and think on this, and if you have other ideas or comments, or perhaps concerns about this topic go ahead and shoot me an e-mail or give me a call. Maybe it's time that you did little research to see what's available out there, that's all for now.

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