watercoloursfmr asked:


I am trying to get a business up and running from home that makes me some quick cash.
I started a tutoring business and it has a few students , but it does not make alot of money. I thought cleaning apts for people would be cash and no responsibility except to do a good job in three hours and go on to the next house . I need to get some cash flow going as I lost my job 5 months ago and need to replenish my funds that I am using from my savings. I posted a few ads on the free websites on the Internet and now I will post a few in grocery stores. What would be a good place to get more ads seen by local people in Canada. I am located in Toronto Canada.
Is it a good business to do apt cleaning??? When mornings? Evenings??? For Adults or Seniors????

Don

We Buy Your Business asked:


We Buy Your Business

For some, planning a business exit can be a predictable, methodical process. We know the competition; we understand market demands, know when we want to sell and might even know the actual date. But for far too many business owners, the business exit comes as a harsh reality and often unplanned event.

Protecting your business and assets against the dreaded six D’s of an unplanned business exit can give whole new meaning to the term “Disaster Management”. While every business may experience unexpected pitfalls, careful planning to ensure risk exposure is minimized can assist in keeping you in the driver’s seat when it comes to managing your company. Familiarize yourself with the six D’s of an unplanned business exit: debt, death, disability, divorce, departure and disaster. Know the enemy and look to address all six D’s in your operating and buy / sell agreements.

The Six D’s of an Unplanned Business Exit

Debt:No one goes into business and plans on it not succeeding, but 40,000 businesses fail every month in the United States. When debt exceeds revenue, it is critical to exit timely in order to minimize loses. Understanding limitations and protecting critical assets are key to successful divesture.

Death:Many businesses are solely dependant on their owner’s abilities, relationships, and passion to drive success, and when there is a death of an owner or partner of a business, it can have significant impact to a business almost immediately. While no one wants to consider their own demise, the strength and longevity of a business relies on being able to plan for such a critical loss even if it means downsizing or reorganization. The survival of a business in relation to key individuals needs to be evaluated and exit strategies planned accordingly.

Disability:Unbelievably, death is not as likely to end the business as a disability. A disability to a business partner can put a significant drain on cash flow, daily workloads, and excess down time, all of which can be devastating. Insurance and financial planning towards alleviating such an impact needs to be carefully evaluated especially when dealing with small business start ups where funding and resources are limited.

Divorce:No one wants to plan for a business or personal divorce, yet while Pre-nuptial agreements may be gaining in popularity many people never look to manage such impact to their businesses. What happens when the partners cannot get along? Or worse, you inherit another partner due to a personal divorce settlement? Exiting the business might be the only alternative you are provided.

Departure:It does not sound as bad as death, but it can wreak the same results. A partner, key employees, or other resources decide to go to the competition, retire, burn out, or win the lotto. When they leave, how does this impact your business going forward?

Disaster:If the five D’s above where not enough to impact your business, there are no limit to the other disasters that may occur that were never planned on: robbery, sickness, employee theft, employee turnover, natural devastating events, etc. In today’s post Katrina, 911 world the impact of the chaos theory is enough to keep even the best business minds awake at night. Plan for the worst; strive for the best and know when to get out if need be.

For the typical business owner, each one of the six D’s has special demands on the family, income, taxes, and control of assets. An agreement, commonly called buy/sell agreements, can be used to plan for the impact associated with the dreaded six D’s. A successful sustaining business exists as a separate entity from personal concerns and risk can be reduced by developing mutually fair and equitable agreements prior to these events occurring.

Business is an evolution and travels a diverse path. While some may look on an unplanned exit as a failure others may see an opportunity for growth and freedom.

www.WeBuyYourBusiness.com



Whitney

Bill Henthorn asked:


There are several options for a person to consider when looking getting into the car wash business. Should the person buy an existing business? Should it be automatic-self service or one with a staff of washers? Should you consider a mobile business or a business with a fixed location? Should the business be a hand wash business or equipment oriented? All of these questions must be answered and the potential owner must come to grips with these options. The amount of money the person has available to put into the business will be a determining factor on what way would be the best way to go. A fixed location will cost more to do than a mobile business. Buying an existing business is usually more costly upfront than starting one from scratch, but in this case it would depend on which way the person chose. For example the mobile car wash would be far less expensive than a fixed location operation. The mobile business would have the cost of equipment and a truck. The fixed location would entail a building and the equipment for the bay or bays.

Starting either from scratch would cost a certain amount. Whether this would be more of less than buying an existing business would depend on the deal that could be made with the current owner. If the owner is motivated and trying to just get out of the business, then a better deal may be possible. The circumstances would dictate the answers to these questions.

Talking with business brokers and looking on the Internet could help in finding a person with a mobile business. The fixed property would probably be easier to find.

Another possibility would be to start with a mobile business and as the cash flow became more stable, look into getting or adding a fixed location car wash.

The Internet is a terrific way to find businesses/equipment for sale

A person thinking about starting one of these car wash associated businesses can easily find car washes for sale and brokers who represent them. The mobile businesses may be slightly harder to find, but they are available. The advantage of buying an existing business is almost always a better way to go than starting one from scratch. The immediate cash flow and clients is a huge plus to a new owner. This factor could be the difference between success and failure. An existing business is much easier to push past the break-even point and to a successful venture. A true start-up business has to gain clients and slowly build up cash flow. The question for the owner of this business is will it happen soon enough for the business to survive.

Talk with a broker about what is available and the terms they feel they can obtain from the current owner. If this is out of your reach financially, then a mobile hand wash could be the answer or using a small power washer to get the business off the ground and started. There are several options in this business that could lead to a successful new business. Getting clients will be the biggest problem facing the new owner of such a business, as there are few to none when the business is opened.

The Internet can be used to find equipment, which is new or used. This is another real advantage of using this tool to help a potential owner find what is needed. Just put in what you are looking for in the search box and you will be surprised at how many sources will show up.



Arranging financing of an existing business



The current owner is the obvious source of some financing of an existing business. The problem is the buyer will have to pay a higher price for the business than if it were being purchased for cash. Having your financing in place when making your offer for the business will save money on the purchase price.

The Internet is an excellent way to find business financing for your purchase. There are several firms that show up on the Net for this type of loans. These firms are in the business of doing this kind of lending and are much more understanding of the problems a new owner faces when buying a business. They are certainly worth contacting and discussing your situation.

Car Wash information and Car Wash business planning

There are great sources on the Net that will help the potential owner of any type of business. The Car Wash business is well covered and a buyer can get good information about running and owning this type of business. Having prior knowledge of what is needed to be successful in this business will help a potential buyer decide if this is the correct move for them to follow. A book that tells the facts is invaluable to the buyer of such a business. Getting an up close and personal look before the fact lets the buyer imagine what it would be like to own a car wash business. If they like what the see in their minds eye they can pursue the project.

Another way to get information is to speak with people in the business. They may be willing to talk if they are sure that you will not be in competition with them. They could lead you to brokers and companies that would be helpful in getting more information. The one question that you should try to get them to answer is would they do it again. Has it panned out like they thought it would before they got into it?

Any information from all sources will help you evaluate even better the advantages and disadvantages of going into such a business. This is true of any type of business that a person is considering.

The problem as always is one size does not fit all. One owners experience could be great and another could wish they never made the decision



Conclusions



This business, car washing, has so many options available to owners and potential buyers that need to be looked at and considered very carefully.

It is not like buying a restaurant or a plumbing company. Those businesses have limited variations such as location or the type special services they offer. This business has many different levels of financial commitment to buy or start. All of these options make this an interesting business to consider. People are very particular about their cars these days. Their car represents a substantial investment that needs care and ongoing maintenance. This means this business niche is likely to grow and be used by more people all of the time. A trend like that makes this business even more attractive to the potential owner.

Finding a business for sale and the needed money to make the purchase is fairly easy for a person that is used to using an Internet search engine. If you speak with someone in the business, they may be very helpful and even better they may be in the market to sell. If they are, the obvious question is why do they want to sell. In any event they could give you valuable insight into the business.



Emily