Deciding to become your own boss is a big step, and it’s easy to get so caught up in the excitement of your newest adventure that you skip over an important step or two. Before you make any serious decisions about your new business there are 3 very important things you need to do first:
Buying a Business Checklist – 3 things you must do
- Set Your Goals: First things first, you need to know what you hope to achieve by owning your own business. Do you want to be a millionaire? Or are you just looking for a little financial independence? Do you want to be able to set your own hours? Or are you more interested in having a 9-5 lifestyle and having weekends off? Discovering what you want from your business venture will help set you on the right path to finding a business that suits your unique needs.
- Research, Research, Research: Next up, it’s time to start looking for a business that suits those needs. Take a look at the businesses for sale in your local area, and visit some franchising websites to find options that might suit your business profile. Make a list! As your research progresses you’ll be able to look deeper and deeper into your business of choice.
HOT TIP: Visit their social media profiles to get an idea of what customers are saying about the business and the culture of the company.
- Work Out Your Finances: Dealing with the financials of a new business can be tricky, and there are a lot of things to consider. Luckily some business opportunities give a little more guidance. Joining a franchise for example, allows you to get a much clearer picture of how much money will be required to get started and how long it’s likely to be before you start seeing profits. Most accredited franchises even have existing relationships with Australian banks – making it much easier to get financial assistance for your new business.
Have you considered a Kwik Kopy franchise for your new business? We’re one of Australia’s top rated franchise opportunities, and we can help you access financing as well. Contact us now to find out more.