While today’s entrepreneurs often hear how important small businesses are today, business brokers and other business professionals would say that isn’t really anything new. Throughout the nation’s history, small business owners have been the backbone of the country’s economy. Furthermore, this fact hasn’t really changed. Today, buying a small business still presents a great financial opportunity for investors and, as an added bonus, boosts the nation’s economy.
When the Country Was Young…
Until the dawn of the industrial age, there really wasn’t such a thing as big business or business brokers. Every business tended to be quite small and focused on servicing specific clients in a well-defined geographical area. Those businesses provided goods and services for local residents and other business owners, much like small businesses still do today. Up until the 20th Century, a small business for sale presented a golden opportunity for an entrepreneur seeking a solid future. While choosing the right type of business and carefully researching the needs of consumers was important, there was almost always room for anyone with drive and imagination. Today, that’s still true. Although the business environment has evolved, there is still a great future for small business owners.
Everything Changed in the Post-WWII Years
While big business already controlled some business sectors, smaller businesses still served as resources for customers throughout the country after WWII. Small business owners in both large and small cities, as well as towns, continued to prosper. However, due to continued population growth after the war, it became more important to specialize rather than offer a wide assortment of goods or services. That trend continues, and a business brokerage today will encourage potential small business owners to explore how businesses for sale serve their communities and whether modifications could improve those entities.
When Buying or Selling a Small Business Today
Entrepreneurs are finding that small businesses in different parts of the nation, or within the same city, don’t always offer the same levels of opportunity. A Houston business broker, for example, may counsel a prospective small business buyer that two seemingly similar businesses won’t necessarily provide the same opportunity for success, simply because the demographics of different neighborhoods demand different goods or services. That doesn’t mean the opportunities either business offers should be ignored; however, the price paid may need to be adjusted to account for the differences.
If you’re considering buying or selling a small business anywhere in the Houston area, our business brokers at Del Lingco International have been working with small business owners for well over half a century. For immediate help, contact us at 713-783-5800.