What Business Do I Buy If I’m Broke?

Are you feeling broke and wondering how you could ever buy a business?

Don’t worry if you are, because I’ve got good news for you!

If you are broke and want to buy a business, you should consider using seller financing. Seller financing is where you use the business you’re buying to fund the purchase, so that you pay the seller over and agreed timeframe, which is about being creative and working smart.

Did you know you can buy a business without needing a lot of money? It’s called seller financing.

And guess what? Often times you won’t even need a loan from a bank!

How does seller financing work?

Here’s how seller financing works:

The person selling the business (let’s call them the “seller”) agrees to let you pay them over time. Which is instead of paying all the money all at once and upfront.

This means, you use the money the business makes to pay for itself!

And there’s more!

You can even agree with the seller to use some of the cash the business has as part of the down payment, and by doing so the seller can save tax on the sale of their business.

Plus, if you ARE happy to borrow from a bank, you can even use the business’s assets—like its equipment and inventory (or stock)—to help fund the payment to buy the business.

This is what is known as asset financing.

So, what seller financing really means, is that you use what the business already has to help you buy it, but with the agreement from the seller.

So, even if you’re broke, you can still buy a business!

With seller financing, you don’t need to be rich. You just need to be smart.

So all you need to do now, is to go out there and make your business dreams come true!

And Remember, being broke doesn’t mean you can’t own a business. It just means you need to get creative and work smart!

I hope this helps you on your journey to finding a business to buy, and if you have any questions on this topic about buying a business, or on any other aspect about the process involved in buying a business, please drop a comment below.

And always remember; no question is a stupid question.

If you don’t know it, you don’t know it, and by having the answer to a question you have, might be all it takes to move to the very next step in your journey to buy a business.