As Coloradans, we are all too familiar with the insanity that can be renting a home or an apartment. Renters pay a premium to live in almost every area of Colorado, and along with those premiums, is a less than premium lifestyle. Often times renters find themselves dealing with absentee landlords, maintenance issues that lay in wait for months, crumbling infrastructure and slow Internet! So when given a choice between renting and buying, why is it that so many professionals are okay with "renting" their jobs?
The world of corporate jobs may feel safe, with their 9-5 hours and management completing all the decision making, but is there really security in working for a large company? One day your compensation structure can change (without your input) or boss number three can decide to do away with holiday bonuses. I mean have you seen the calamity that Clark Griswold stumbles through in the movie Christmas Vacation? Working for someone else is the equivalent of renting a house for your entire life. Not to mention you never know when the day will come and the landlord decides to redevelop and you're gone! As a business owner, you are the one that decides who is in charge, how the day will go and you're building your own equity (not someone elses) at the same time. We have a client that bought a business two years ago for $1.5 million and he has now doubled his profitability, which in turn has doubled the business's value and increased his net worth by the same amount along with his great take-home salary.
Another client of ours bought a company one year ago and has already increased its profitability by half, putting it on the same track as the company above. All that being said, it is important to highlight that the real key to financial freedom is running your own company. There is no perceived "earnings cap," the big decisions lie solely with you and you get to enjoy a much more flexible lifestyle than your corporate counterparts. This means less missing out on your own life, while making someone else?s better and a lot more living the dream! Buying a business is a great way to take control of your financial and lifestyle goals and is a lot more attainable than many buyers think - you can always start small and scale over time. For more information on buying a business, financing the purchase and structuring the deal we invite you to schedule a complimentary consultation with one of our brokers today.
Al Fialkovich is the Managing Director at Transworld Business Advisors - Rocky Mountain. In his role, he oversees a team of brokers and the sale of an average of 50-60 small to medium size businesses each year. His focus has always been on running seamless transactions, fostering constant and honest communication and maintaining strong relationships with his clients. This commitment has earned Al multiple awards for Transworld, but most of all it has brought him true satisfaction in his career. If you are interested in buying or selling a business contact Al today!