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Buy a Business
Buying a business or starting your own
Starting a business can be overwhelming for first time entrepreneurs. If you have a great idea and are ready to work hard, then you may wish to start your own business. But if you want to avoid some of the common challenges of starting a business, buying an existing business or a successful franchise may be a better option.
Buying an existing business or franchise
Benefits
Benefit from the work that has already been done on establishing a brand, developing customer relationships, developing business processes and acquiring assets.
Can start making profits more quickly.
Easier to get financing because the business model is proven.
Challenges
The up-front investment is often higher than if you were starting your own business.
The previous owner and/or franchisor's business model and way of doing business may not be a perfect match with what you envision.
Starting your own business
Benefits
Complete freedom to design and manage the business according to your vision.
Not bound by anyone else's rules, history or assets.
Opportunity to bring something new to the market.
Can be less expensive than buying a successful business.
Challenges
Can take a while until you are profitable.
There is no guarantee of business success and there is a high rate of failure for new businesses.
More difficult to get financing because lenders or investors are taking a risk with your idea.
If you plan to buy or start your own small business, we will provide the following services for you:
- Free advice on off-the-shelf business in Canada
- Review of the business plan
- Consult through the referral services of a lawyer or accountant
- Up-to-date information for entrepreneurs
- Services relating to security, licenses, permits, registration, regulations and other documentation required to start a business
- Import and export information
- Services relating to patents, Copyrights and trademarks
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