Page 12 - aruba-today-20230428

A12 BUSINESS
Friday 28 april 2023

Thinking of Starting a

Business? Consider

Buying One Instead

Ambassador suites
By ROSALIE MURPHY of guarantees of success," Eagle beach
NerdWallet Katz says. With the same 1 Br WK # 14 room 1232 $7200
1 Br WK # 14 room 1333 $8400
Starting a business can amount of money, he says, 1 Br WK # 14 room 1235 $7200
be an enticing dream. It's you could purchase a busi- 1 Br WK # 14 room 1132 $7800
also notoriously difficult to ness that generates cash Call:011-297-630-1307
come up with an original flow "right out of the gate."
Wednesday’s idea, find the right team Buying a business doesn't johnnypaesch@gmail.com
and fund its growth. guarantee success either, www.halleytimetravelaruba.online
If you want to work for Katz cautions. Ambassador suites
yourself, there may be an Still, "the financial econom- Eagle beach
easier way — buying an ics just make a lot of sense 1 Br WK 15 room # 1429 $4500
existing business. Think of it — if you buy the right busi- 1 Br WK 16 room # 1132 $4020
like renovating a house in- ness, do the right diligence 1 Br WK 16 room # 1432 $4500
stead of building one from and are successful in the 1 Br WK 16 room # 1227 $3600
the ground up, says Mark continuity of the opera- Call: 011-297-630-1307
Zweig, professor and en- tion." johnnypaesch@gmail.com
trepreneur-in-residence at FINANCING MAY BE AVAIL-
the University of Arkansas ABLE www.halleytimetravelaruba.online
Walton College of Business. It can be very difficult to Casa Del Mar
"I like the constraints of an find startup funding for a Eagle beach
existing business versus new venture. Many busi- 2 Br WK # 13 room 1508 $17 K
a clean sheet of paper," ness owners rely on their 2 Br WK # 13 room 1509 $14 K
Zweig says. Here are four own savings or friends and 2 Br WK # 13 room 1214 $14 K
reasons to consider this family to get their business 2 Br WK # 13 room 1305 $16 K
path to entrepreneurship. up and running. 2 Br WK # 13 room 1216 $18 K
YOU DON'T HAVE TO START "The main advantage of 2 Br WK # 13 room 1513 $16 K
FROM SCRATCH buying a business over
Founders need to find cus- starting a business is that Call:011-297-630-1307
johnnypaesch@gmail.com
tomers, develop relation- there's capital and loans
ships with vendors and available from banks for www.halleytimetravelaruba.online
hire employees. They may buying businesses," says Casa Del Mar
need to rent space and Tim Stolz, a certified finan- Eagle beach
buy equipment. They also cial planner and certified 2 Br WK 14 room 1301 $16 K
need to create processes, public accountant at Best- 2 Br WK 14 room 1308 $14 K
set up software tools, hire gate Wealth Advisors in 2 Br WK 14 room 1305 $16 K
lawyers and accountants, Maryland. 2 Br WK 14 room 1313 $9,5 K
and complete other rel- You may be able to use 2 Br WK 14 room 1216 $ 18 K
evant tasks. an SBA loan or business 2 Br WK 14 room 1513 $ 16 K
Building that structure takes bank loan to buy a busi- Call:011-297-630-1307
time and money. When ness. Startups are typically johnnypaesch@gmail.com
you buy a business, at least excluded from these types
some of those things are al- of financing because they
ready in place. lack revenue history — but
"There's a lot of intellectual when you're buying an ex- Casa Del Mar 2BR/2B:
capital when you buy a isting business, lenders can Week 2/Unit 1113 (18k);
business," says Randy Katz, evaluate its financials and Week 5/Unit 1315 (20k);
founder of Synesis Advisors make predictions about Week 8/Unit 1113 (19k);
and past president of the the business's future perfor- Week 8/Unit 1409 (19k);
California Association of mance. Week 10/Unit 1207 (17k);
Business Brokers. "The em- Business sellers may also be Week 13/Unit 1509 (14k);
ployees have seen pretty willing to finance the busi- Week 14/Unit 1308 (14k); and,
much any kind of problem ness purchase, Zweig says, Week 15/Unit 1217 (10k).
that you might run into, especially if they're eager CdMOwner@gmail.com
which means that they to retire and don't have a US(Call/Text): (860)992-3890
probably are better at successor.q _______________________________216163
foreseeing problems and
better (at) planning for
problems."
And perhaps most valu-
able of all: There may al-
ready be money coming
in.
"I could invest $200,000
and have to grind it out
Wednesday’s and build the business from
scratch with absolutely
no infrastructure and no