It used to be said that Britain was a nation of shopkeepers. I’m not sure if that was a positive comment or not, but it was probably true and certainly revealed how British people are by nature. We are a nation of business builders and entrepreneurs. We know how to trade and deal, we built an empire on the back of trade, and we do business in a way that is envied across the world, firm but fair. Because of that it makes perfect sense that British people today want to start their own business.

When you want to own a business there are many ways to do it. Buying into an existing business is the route many go down. This has many benefits as the company is already established and will likely have existing customers. The brand has been built and effectively you are taking over someone else’s hard work to profit from it. In short it’s a great way to get into business and start making good money instantly. However there are two big issues with going down the businesses for sale route. The first is you are never really sure what you are getting (unless you are buying a huge well known business). Because of this sometimes hidden issues with a business can come back to bite you after you have purchased the business, but by then it is often too late. The second is the cost. If you want to buy a successful business that makes a good profit it won’t come cheap, and if it does then go back to issue one. A profitable business is literally a cash cow; it will give you money every year. So ask yourself, why would you give that up unless you are getting a huge chunk of cash for it?

In a nutshell buying a business for sale is perfect if you have a large sum of money to spend upfront and don’t mind using someone else’s vision.

Setting up your own start-up business would be the most obvious way to go into business. Starting your own business has many benefits compared to buying a business. Namely the cost involved. It is much cheaper to set up a new business than buy an existing one. You will also get to choose the branding that you want and set it up in the way that you want your business to operate. Of course when looking at businesses for sale you will not have to do a lot of the hard work that will be involved in establishing a start-up business, but you will save a fortune and have a sense of accomplishment if you build your own business. We offer this service to our clients. Our start-up business packages provide you with everything you will need to set up in business.

In a nutshell starting your own business is perfect if you want to have control over how your business looks and operates and also if your initial investment amount is low.

There are also franchises which are a good option to look at. Franchising is when you take a branded business and operate a single shop or area (think of McDonalds, various coffee shops etc.). These are good if money is the only factor as you are unlikely not to make money operating these tried and tested business models. However as always there are drawbacks. Firstly you won’t have any control over the business, you have to brand the way you are told and operate the way you are told, as you are not technically owning a business, but managing and sharing in the profits in a part of it. The second is the cost involved. Often you will need a hefty sum of money upfront to buy in.

In a nutshell a franchise is perfect if you just want to make money, have capital to invest upfront and don’t really mind having a boss.

So there are three main options you have, and depending on your personal situation and what you want to achieve will determine how you go into business. Whichever way you choose we wish you the best of luck!