Seattle is a great place to live, raise a family and run a business. In fact, many people today are realizing the freedom and many other benefits which come with running your own enterprise. However, before you seek out a business for sale in Seattle, here are some tips to help you avoid some common mistakes and make the process easier.
It can be difficult to find important information on local businesses. However, if you visit the website of the Seattle Library you can find some excellent resources on business, finance and fundraising.
The United States SBA (Small Business Administration) is another excellent source of reference for first time business owners. You can also check out some of the options for financing which are available through the SBA.
Consider a reputable business broker. He or she can offer important information on local businesses and help you find what you are looking for.
What Kind of Plan Do You Have?
Did you know a sound business plan is one of the best strategies for obtaining financing? In addition, it will give you a reference point for finding the best business for sale in Seattle. This kind of information will guide you through your plan. Here are some suggestions:
- Write a mission statement – explain briefly what why you want to be in this business, and what you wish to accomplish.
- Talk about what you plan to sell – if you wish to sell products, then briefly describe them and the same is true for services.
- Why – put down why you want to go into this particular kind of business.
- Mention financing – explain why you need financing and exactly what you plan to do with the money.
- Future – list your plans for next year and ten years from now.
Name Your Business
You might be surprised how many new business owners struggle with names. When you license a business you’ll need a name and this is a very important consideration. Here are some helpful tips for choosing the right name:
- If you have partners, conduct a meeting and make a mutual decision.
- Brainstorming – this can be a very effective way to come up with the right name. Develop a long list together with others to give you the most options.
- Be careful with location based names – for example, you might consider the name “42nd Avenue Motors”. This is not a bad name, but what happens if you expand your business or move in the future? You’ll have to change your name and this could mean re-building your customer base or reputation.
- Memory – think about a name which accurately describes your business and is easy to remember.
Hopefully, these tips can help you find the right business for sale in Seattle.