Go Ahead and Take the Stairs! Transform Your Career By Owning A Successful Business
photo by Arisa Chattasa
DID YOU KNOW THAT YOUR OWN BUSINESS IS MORE AFFORDABLE THAN YOU THINK?
You really can transition from your current job to owning an appreciating asset.
Many of you are ready for a change. Tired of office politics or feeling stagnant in your careers, you are eager to lead, create wealth, and make a positive impact. You are ready to jump to opportunities but need guidance on how to do so. I like to think of you as a Pre-Owners!
Here are some tips on owning an existing successful company. You might be surprised to learn that you can afford to buy a business with a lower down payment than you imagine, replacing your current job with an appreciating asset. Here are some key points:
Funding Support: There are professionals in East TN who can help you secure funding to purchase a business.
SBA Loan Guarantees: The Small Business Administration (SBA) will guarantee a bank loan with just 10-15% owner equity from the buyer.
Seller Financing: Sellers can carry part of the equity to reduce the down payment required.
Retirement Accounts: Your IRA or 401K can demonstrate your ability to repay a loan, as net worth is crucial.
Relevant Experience: Your experience is vital. The SBA and banks will assess your ability to lead the business successfully.
Loan Guarantee: The SBA acts as a guarantor; they do not provide the loan themselves.
Cash Flow is King: The cash flow of the business you’re buying is critical.
With the right resources and support, you can change your career trajectory and achieve your goals.
Let’s sit down for a cup of coffee and discuss how you can
jump through the window of opportunity.