View Full Version : Best Business?
Hi Guys,
thanks for all your info to date. As I've stated on other subjects, we are moving out to florida this year once we have sold our house. We are looking at various business types. Obviously, it is always better to talk to those who have the experience. What is the best business to go for? If you had you time again which business would you have bought? I'm not bothered about grafting hard even in the heat. Please help. or maybe you can recommend the businesses to stay away from?
Jimbo.
The best business for you is not the same as the best business for anyone else. Everyone's individual and has likes and dislikes about what they want to spend perhaps the rest of their working life doing.
So, my advice would be to go with something that you're happy to be doing. There's no point buying an office based business if you prefer to be out and about all day. No point in buying a lawncare business if you hate mowing the lawn at home.
What I'm trying to say is that it's not like going on a fortnight's holiday and playing at working. If you absolutely hate it after the first couple of weeks, then you're going to be really unhappy, so make sure it's something you enjoy before you even think of purchasing anything.
Make a shortlist of things you enjoy and then see if you can find a business which fits in with that. If you can't find a business that does that, then try for something you have some knowledge of and experience in as you'll find that easier.
Having said that, you may not find there's a huge amount of choice, particularly in the Orlando area, of established businesses to purchase.
thanks blott,
I am a manual worker at the moment and have been looking at lawn/pool businesses on the west coast. We have a friend out there doing the same and seems to be doing ok. You made some good points, but are there those businesses that just don't pay. I've read about the nightmares of buying a business that just does not stack up. Also I'm guessing here but do quite alot of the brits that move to florida head for the orlando area? A kind person just mailed and to tell me how competitive it is there?
Jimo
Lots of them do head for the Orlando area Jimbo so it's very competitive to find a business that isn't some sort of overpriced ripoff as business sellers know there are a lot of desperate Brits looking for something. I don't think it's quite as bad on the Gulf though.
Don't know what advice to give you how to avoid the pitfalls though. Except to say the time worn phrase of if it looks too good to be true, then it very probably is. Make sure you get an accountant to go through a business before your purchase to make sure that it does all add up. I know that costs extra money but it could be worthwhile in the end. Also, run it past your immigration attorney to ensure that it stacks up visa wise.
You will pay less for the same business on the Gulf Coast than you will in Orlando and it is not quite as competitive as it is in the Orlando area so that is a good choice. Get one or even two accountants to look at your business. Do something you have experience in if possible. A lot of the work here is manual and being used to that sort of work will stand you in good stead. A lot of the people buying businesses here were office workers in the UK and unused to the kind of hard work most of the Brits do here to make a buck.