Buy an existing business or franchise

U.S. Small Business Administration, 5 min read

This lesson is a guide published on sba.gov.

What you'll get

The SBA's section on franchising versus buying an existing business, with three things to settle first, what you can invest, whether the work fits your skills and life, and what comes with the purchase, such as contracts, leases and cash flow, plus what to check before you buy. No lesson on buying a shop written for makers turned up, so this comes from the Services track; buying an established shop, with its equipment and customers, is one way into contract work.

Do this week

Write the most you could put into a purchase and the kind of shop your skills fit, then name two WNC shops whose owners might sell in the next few years.