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Thinking
of Buying a Business. . .
and
"mature?"
YES!  Why
NOT?
According
to the Intuit Future of Small Business Report 2007, an average 55-year-old
worker today will live into his/her 80's or longer, and will be healthier
and more able and willing to work in their 60's and 70's than those of prior
generations.
What
makes you especially well-equipped to take on this new challenge NOW?
-
You have experience with
people and systems
-
You have wisdom for
decision-making
-
You have more personal
flexibility in your life
-
You have the patience to
implement strategies and monitor results
-
You have financial
resources to bring to a business
What are
the Main Reasons WHY Mature People Choose to Buy a Business?
1. "No more
Corporate Life; I want to be my own boss"
2.
"Tired of making other people wealthy. I want my hard work to improve
my own financial situation."
3.
" I have a lifetime of skills and experience to use to really grow a
business."
4.
"I want the FREEDOM and FLEXIBILITY of ownership."
5. "I have not done this yet, and I always wanted to try
it."
6.
"I will not be downsized again, will not spend my life on the road
or in the air, and will not wait for
someone else to change my life."
What are
the Main Risks in Buying a Business in Mid-Life or Later?
1. Not enough
money for working capital creates a problem VS a success in the early years of a
business.
2. Taking
on too much debt-- too much risk.
3.
Choosing a business with a poor fit to one's skills and experience.
4.
Naivete about the realities of small business---glamorizing
or underestimating the work demands.
5. Failing to PLAN for a transition, an exit plan, or succession.
6.
Not calling in a professional soon enough to maximize the benefits
and minimize the taxes on an eventual
business sale.
Call today to talk confidentially
about how we can help you and your business . . . 770-918-9390
Did You KNOW?
- There are pension programs
available for small business owners?
- A study by Merrill Lynch and
Harris Interactive found that 45% of Americans approaching retirement never
plan to stop working completely.
- According to Merrill Lynch and Harris
Interactive, only 37% of the boomer generation indicated that earning money
was an important reason to keep working. 67% thought challenge and mental
stimulation would motivate them to continue to work. The same study found of
boomers who plan to continue work, nearly two-thirds want to purse a
different line of work.
Monday, October 19, 2009, 2:28pm EDT
Forbes: Atlanta ranks No. 1 among America's 'recession
proof' retirement markets
Atlanta Business Chronicle
Metro Atlanta ranks No. 1 on a new list by Forbes
of America's 40 "recession proof" retirement cities.
Forbes said it considered such factors as average income for seniors,
current and expected home prices, job-growth predictions through 2014, the
cost of living and median monthly housing cost.
Atlanta ranked 17th for number of sunny days, 17th for income of residents
65 and older, seventh for median home price, 17th for home price change
predicted for 2009-2014, 11th for cost of living and 23rd for median housing
cost.
Atlanta was followed by Dallas-Fort Worth, Tampa-St. Petersburg, Houston,
St. Louis, Austin, Las Vegas, Phoenix, Kansas City and San Antonio.
New York finished last among the 40 cities, with Milwaukee and Boston near
the bottom.
Click
here for the Forbes report on recession-proof retirement cities.
And click
here for the ranking of 40 cities.
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