Going into business for yourself is a big step, one that can be full of apprehension and even fear. Almost 90 percent of all those who purchase a small business have never owned a business. Most of them bought a business that was different than what they had been looking for. These business buyers had the opportunity to explore the marketplace and subsequently found a business more to their liking.

As you begin your search for a business, keep in mind that running your own business is more than a job; it is a lifestyle change. In most cases, it is a very big lifestyle change. Typically, you will be working longer hours, you will be making all of the decisions – and, as the expression says, “you will be the chief cook and bottle washer.” In other words, you will be doing all of the work from running the business to, in may cases, sweeping the floor and changing the light bulbs.

Most buyers are looking for many of the following in considering the purchase of a business:

  • Pride in the service or the product
  • Flexibility
  • Income
  • Control of your own destiny
  • Recognition
  • Security
  • Privacy
  • Status
  • Customer and employee contact