This post is sponsored by Transworld Business Advisors of North DFW
Frisco is a town brimming with ambition… The kind that flows from visionary, energetic individuals that often dream of owning their own businesses.
For some, owning a business holds out the promise of job security, the kind that corporate roles can never provide. For others, business ownership promises financial independence and a chance to break beyond the barriers of a fixed income. For most business owners, the prospect of controlling one’s own destiny holds more allure than any promotion ever could.
Is this YOUR Year to Take Control?
- Have you owned a business before?
- Do you have a particular passion that can be combined with a current business opportunity?
- Do you have any capital available?
- What are your long-term goals for the business?
- Do you have special family considerations that you are prioritizing?
Questions like these will narrow your options and a brokerage like Transworld can help use these considerations to guide you to business that may be right for you.
When Tiffany Swartz, CEO and Owner of Transworld Business Advisors of North DFW, helps prospective owners begin the process of searching for a business to buy, she guides them with a series of additional specific questions to frame the search.
It’s always good to begin by exploring potential industry preferences along, of course, with geographic preferences,” Tiffany says. “Another factor to consider is risk tolerance… Some potential owners are far less risk averse than others. This completely changes the kind of business opportunity that may fit you the best.”
Of course, one’s budget and the cash flow requirements of a business are an indispensable factor in narrowing the search for the perfect target.
Ready, Set, BUY!
Once a potential business is identified, Swartz doesn’t leave future owners stranded. She helps you prepare both financially and mentally for the rigors of owning and running a successful business while tangibly helping you with the transfer process.
Transworld also guides and assists with tasks such as executing a Non-Disclosure Agreement while coaching you through concepts that are vital for a successful business owner to understand, such as Return On Investment (ROI) and projecting a cash flow to provide you with a livable wage.
Swartz also helps potential buyers understand whether they have enough capital and cash flow at present to actually afford the business they are considering.
Are there funds actually available to invest? Working capital needs can include the first and last months rent plus a security deposit, licenses, utility deposits, inventory – the list goes on and on,” says Swartz. “Prospective owners need help thinking through the array of financial demands so that they are prepared appropriately.”
Swartz even tours prospective businesses with her clients, preferably after-hours, since there are fewer distractions.
A tour is important because it allows the buyer to get familiar with the business and gain a better understanding of what is actually happening behind the scenes.”
Transworld Business Advisors helps prospective buyers evaluate financial history, interpret complex financial statements, and make comparative analyses to help a buyer determine a business that is the perfect fit. Finally, Swartz helps her customers determine the best offer price and the best deal structure when the time comes to make an offer.
So, is 2018 your year to embark on an entrepreneurial journey? Maybe a discussion with Tiffany Swartz at Transworld Business Advisors should be on your calendar… There’s no better broker to guide you through the journey.