There are many benefits to buying a business, however, buying a business under management opens up another realm of possibilities for an enthusiastic buyer.
At Bsale, we list businesses that are both owner-operated and under management, meaning you’ve got the ability to choose the correct business structure for you. But what are the benefits of buying a business under management? We spoke with Jad Naddaf from Link Business Melbourne to find out more.
Buying a business under management allows the person to make more money while freeing up their time. It gives you a lifestyle work balance that is great - you could be in Bali having fun, while making money home in Melbourne.
With any business purchase, it’s important to understand the implications of how this will affect your lifestyle. This is a great way to introduce more flexibility into your working week and beyond.
Buying a business under management is also good for people in a different field than that of the business. For example, a doctor buying a newsagency - there really isn’t any reason why you can’t run a successful business in a new field or industry under this structure.
Furthermore, it makes a good return on investment if the business is profitable.
Utilising this structure under a franchise system is even more beneficial as the systems are all in place already, which makes a big difference. You are buying into a secured and guaranteed business which means overtime your business should have all things in place for success.
Although your new business will require your time and input, a lot of business owners choose this structure so they can supplement their existing income. If the structure is right it should free you up to continue with your existing job or business role.
Operating a business under management allows you the time and exposure to allowing the experts to show you how to run the business as well as possible while you learn the ropes. This essentially takes the pressure off you to jump in straight away and perform to the same standard it was running previously.
As we know, customers are loyal and with any small business, they tend to be very invested in the people behind the business. Purchasing a business under management means you’re less likely to cause disruption to your existing customers and they continue to experience business as usual and see familiar faces.
So how do you find a business to purchase that would suit being bought and operated under management? We suggest approaching a business broker who are professionals in this field with plenty of industry experience. Jad from Link Business Melbourne would be more than willing to answer any questions you may have.