How to Buy a Business
The WSJ reports on the latest fad in buying a business. Parents who are exasperated with their kid's inability to secure employment after graduation are turning to buying them businesses. This maybe the most perfect recipe for disaster ever devised.
Watching fellow college students working for $7.50 an hour after graduation, Tana Walther, a fashion-design major at Kent State University in Ohio, snapped up an alternative offered by her father—to run a Pita Pit restaurant franchise he would buy.
"I guess I bought her a job," says her father, Jan Walther, of North Canton, Ohio. Prospects of a career in fashion seemed remote, and Tana, a college athlete, loved eating at Pita Pit restaurants while traveling with her track team. Her first new restaurant opened last year near campus in Kent, and the 25-year-old hopes to open several more.
Read the entire WSJ article on parents buying businesses for their kids here.
If you are serious about buying a business or businesses, stick around here.