5 Questions an International Buyer Must Ask

What You Need to Consider Before Owning a Business in the U.S

Owning your own business in the U.S. can be extremely rewarding and profitable. From numerous tax advantages to high consumer spending, the U.S. is a great place for international entrepreneurs looking to start a new, comfortable life for themselves and their families. However, before you decide to start the business buying process, you should ask yourself these 5 questions:

1. What kind of business do I want?

Don’t start the buying process without having a clear idea of what you want. Consider the type of business you would be excited and proud to own. Do you want to sell a product or a type of service? Try to imagine what your ideal day-to-day would look like.

2. Am I ready to devote the necessary time, resources and capital to be successful in business?

The time and effort you invest in locating and buying a business is just a tip of the iceberg.  The real work starts once the business is yours. Are you prepared to invest all your time and more resources into building your business?

3. Do I possess the necessary skills and abilities to start and control the day-to-day operations of a business?

Many new business owners make the mistake of underestimating the kind of work some businesses require. Take for example a restaurant: besides making sure that food is properly prepared, menu choices are relevant and customers are cared for, a restaurant owner will also have to oversee purchasing, managing and training employees, accounting, marketing, quality control, and anything else the restaurant needs to function.

4. Are my past education and experience relevant to the industry I’m looking at? Are my education and/or certifications sufficient to do what I want to do?

One of the most common mistakes we see foreign entrepreneurs make is underestimating the U.S. market. There is no mistake as to why even the most successful entrepreneurs in their own foreign countries struggle to make it in the U.S.

5. How will I manage and advertise my business?

Many foreign nationals are surprised to learn that Americans take less vacation, work longer days, and retire later than people in other industrialized countries. Because of how easy it is to start or acquire a business, owners must work extra hard to stand out and attract customers. Anticipating who your competitors are and developing a strategic marketing plan to beat them is important to the success of your business.

Buying the right business starts with choosing the best business brokers to help you. At Florida Connexion Business Brokers, we have the experience needed to help buyers secure profitable results. Our background in business management provide international clients the counsel they need to run a successful business in the highly competitive U.S. market. Our team is multilingual in English, Portuguese, Spanish and French, and specializes in a select variety of business niches in order to offer real technical expertise. Contact us today to get started.