Buying a new business, especially for a first time business owner, can obviously feel like an enormous endeavour and overwhelming at times as well. Because it feels so big, it can seem logical that the decision to buy and process to buy would take some time; a few months or so.

That can be true when it comes to large acquisitions and takeovers but when it comes to buying a smaller business, especially a franchise, it can take no time at all.

Yes, the actual build time depending on the business (sourcing a location, permits, construction, etc) can take months but the actual decision and discovery period to take ownership can take as little as a couple weeks to complete.

When purchasing a franchise, they are usually quite familiar with the information that you need to have in your hands before you can decide. This information can usually be obtained within a few days of their process and after that, it is just up to you to make a decision.

There is a syndrome called analysis paralysis. Be sure that you do not fall into this rut. Before looking into a business, determine your make or break information that you must have and what metrics must be met before you will buy. Then when you go through the process, if all of your questions are answered in a way that is satisfactory, then it means you should purchase. If you find yourself delaying, then it is usually simply nerves and over analyzing.

With Oxygen Yoga and Fitness, it can take as little as 1 week all the way up to 3 weeks to complete the discovery process. Anything longer and short of a very unique personal situation, there is no reason for it to take any longer than that. We are looking for decision makers. Those who know what they want and are ready to take action on it.

When you have your own business, sometimes taking weeks to make every decision can be detrimental to your success. Personal mindset and timing, intelligence and overall, a desire to own your own business and build your own success is all it takes to own a profitable business.

Good luck in your search and we wish you success!

 

Pin It on Pinterest

Share This