Entrepreneurs who buy a business are statistically more successful than entrepreneurs who start a new business. Why is that?
Mentorship – Some owners are willing to help incoming owners by doing things like introducing them to customers, explaining day-to-day operations, and showing them their bookkeeping methods.
Financing – Many existing companies have three or more years of profitable financials, which makes it easier to secure financing.
Cash flow – An existing business already has customers and ongoing cash flow.
Established Name – Building a good reputation in the community and positive associations with the brand of a business can take years, so starting with those is a huge advantage.
Current Staff – Having trained, experienced staff allows the new owner to rely on the staff’s knowledge and customer relationships while they learn and develop their own.
To make it even easier, SuccessionMatching is partnering with universities and colleges across Canada to offer their students and alumni free memberships to their online community of business buyers and sellers. Participants are also given free transition resources and are connected with our Lending Partners to get expert advice on how to fund a business purchase.
How can I participate?
You may qualify for a buyer coupon code if you are a student or alumnus of the following schools:
- Edwards School of Business
- Confederation College
- Lakehead University
- Olds College