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One of the biggest problems, when you need to transit into or out of a business is conflicted advice.
Agents have competing interests. You can't decide if what they say is compromised and you may find it difficult to trust their advice. You are at severe risks of making a colossal financial mistake.
If you buy the wrong business, you could have never-ending problems and financial losses. A person I knew bought a cafe franchise that didn't make money and had to 'force' his whole family to work in the business just to keep themselves afloat.
(I also know of an owner who didn't register his business with the tax office because he bought a bad business and was hemorrhaging cash... that's another story)
And if you can't sell your business, you may have to exit with very little or nothing.
I have met hundreds of business owners, worked with many buyers and they all have the same insatiable need: To get unconflicted advice from an insider who isn't compromised
For this reason, I founded www.KnowYour.Business (formerly NSWBusinessBrokers.com) to share what I know without being compromised. I wanted to create a site that is unconflicted, gives balanced information, and free from pushy brokers trying to sell you something.
It is important that you learn the risks of a business purchase, or selling a business, and educated yourself on the possible dangers, and to see the right opportunities for yourself.
With that said, I have also met many successful business owners living the dream of being their own boss with 6-figure or even 7-figure income.
I hope this place helps you in your business decisions.
To your success,
Learn HOW MUCH Sydney businesses are selling for in 2020
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