Hi my name is Nick and I am a Business Finance Consultant. Its a very challenging question to answer based on the information that you have provided. Well, if you have a good business plan, good location, experience and decent financial strength to face challenges in the business, then it can be considered a good time. Once again, based on the factors stated above and your financial situation. The economy will rebound eventually, it has too, thats what i believe in.
Buying a business VS Starting a business: I am big fan of buying a business if you have money to invest and if not, then contact me to help you get funded.
If you buy a businesses, you need to make sure that its cash flowing well. So, you know if they have Tax returns that can prove their cash flow and business strength, then you know that you will start making money with investing any extra money into advertising and other channels of reaching consumers. You do pay a price but if its a good business, then we can finance it.
Starting a business has it own advantaged. Your investment required is less compare to buying an established business. But on the other hand you can plan very carefully your target market, spend money on marketing and product and be there. Time taken to establish a business in this economy can be painful as compare to buying a business.
Since I do not know your exect financial background and situation, You can only judge between the best option for you.
If you need financing, you can contact me at 972.522.8700 or visit our web site at www.businessSolutionCompany.com
Dec 14, 2008