The Hot Sector in Business Sales
Main Street businesses are the the best selling sector today. This category includes small specialty retailers, restaurants, gas stations, coffee shops, and diners. Basically any business that you might find along Main Street in Anytown, USA fits into this category.This is happening because people who have been laid off are now looking to basically buy "jobs" for themselves in order to have reliable source of income.
When you're looking to buy a job, your criteria tends to be the following:
- An affordable down payment in the $50K to $100K since outside capital is almost impossible to obtain these days.
- Seller financing in the 75% to 80% range.
- Owner's income of at least $4500 to $5000 per month after the debt payments are covered.
- The ability to pay oneself starting with the first month of ownership.
As I have said elsewhere in this blog and the newsletter, now is the time to buy. Not only are Baby Boomer entrepreneurs and small business owners seriously thinking about selling, but the economic conditions have made it a buyer's market.
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