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I want to buy a business but I only have 10K?

All the time I get buyers who have limited amount of resources.  The anwer is Yes! Business in this price range are typically out of business.  That still is not a not a bad thing as often the equipment is included with the lease hold.  Also this allows you to purchase a business for a fraction of the cost.  Also the lanlord may be willing to negotiate on the lease as the previous tenant was unable to succeed.  The most typical type of business in this price range would be a closed restaurant.  Keep in mind the 10K you have may pay the fee of the broker but will not cover lease deposits,electric, 1st month rent, suppliers, staffing & payroll.  So if you only have 10K you will need to find another 15K to cover all the rest of the expenses.

Published Thursday, May 13, 2010 11:23 AM by Pete Harrison

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