Interested in buying a business? Although recent decades have seen an overall decline in the number of ‘Mom & Pop’ stores lining the sidewalks in cities across America, the small business sector is anything but dead. The year 2014 actually saw a net increase in the number of jobs provided across the family-owned business sector and, across the state, many old standbys are still going strong.
For investors considering buying a business, starting small can lead to big things. Consumers don’t often realize it, but now internationally-known brands like Nike and Whole Foods started out as independently-owned, ‘Mom & Pop’ businesses. Of course, not every small business will blossom into an international corporate giant, but many don’t have to in order to be profitable for investors and to provide a great boon to the community. However, for those considering buying a small Houston business of today, there are a few simple factors that can make or break business success.
The Right Services
Most successful family businesses operate in one of three sectors: food, apparel, or fashion. Embracing these existing trends gives future small business owners a head start, as all these industries can be tailored to an existing or expected client base, offer plenty of room for diversity of services, and allow the creation of a unique and welcoming atmosphere that will keep costumers coming back. When clients can go to any department store or chain restaurant and spend less, it’s important to offer ambiance as well as high-quality service and products.
The Right Location
The ideal location for a small business is in a quaint, or at least functional, downtown area. Look for a small business for sale that is within walking distance of residential neighborhoods, schools, or major bus lines; the more convenience the better. Keep in mind that other family-owned stores in the area can help to pull in more potential customers and reduce the burden of visibility as well.
The Right Clients
It’s best not to depend on unreliable client bases. Try to establish a relationship with clients and find a niche. There are plenty of college students in Houston, but don’t rely on them as a primary source of income. Offer services and an atmosphere the whole community will appreciate.
As National Mom & Pop Business Owners’ Day approaches on March 29th, many investors are considering investing in a business for sale. At Del Lingco International, we are an elite group of professional Houston business brokers that assist everyday people with buying a business.
To get started, contact us at 713-783-5800 to learn more.
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