What is the best business to own?

Beauty is in the eye of the beholder. Most buyers want to own a profitable, well-managed business in an industry that holds a personal interest for them. On the other hand, some buyers may look for opportunities that offer turnaround or improvement potential, where they can apply their special skills. In general, there is no industry that is particularly better than another. However, there are specific businesses that are more successful than others – even in the same industry!

For instance, two dry cleaners can be located in the same shopping center, but one is successful and the other is not. The successful one may have a hands-on owner versus an absentee owner. It may have more effective advertising. It may have friendlier employees. It may provide better customer service or offer more competitive prices. It may pay less rent. It may have newer and more efficient equipment. It may pay less for supplies. It may have higher profits! The only way to find out which one is better is to compare the two and select the more desirable one.

2017-07-19T19:18:23+00:00July 19th, 2017|