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The benefits don't stop there.
Private placement also costs less than an IPO or going after venture capital. And it usually takes less time. At the same time, the investors aren't in as big a hurry for a return. Often, they'll be looking for 10 to 20 percent over terms as long as five to ten years.
While Trivial Pursuit was launched using private investing, this method is even better suited to companies who already have a track record who are looking to grow or expand.
As you would with any approach to investors, you'll need a solid business plan. And since you still need to comply with securities laws, you'll need to consult a lawyer experienced in this area.
To get started, get the word out to bankers, attorneys, and accountants who deal all the time with investors who might be interested in this kind of financing.
Next time, we'll look at another stripe of investor -- the angel.
Purpose
aqu Acquisition
startup New Business Startup
Crucial first steps to get you the business you want.
By Steven Beal and Ted J. Leverette
We've talked about the advantages of buying your own business, and if you're convinced, then it's time to take the next step. But where do you start your search? Looking in the classified section of local newspapers and business opportunity publications? Searching the Internet? Calling business brokers? Going into prosperous businesses and asking the owner if the company's for sale? The answer is all of the above and more!
Additional sources include suppliers to businesses, professionals advising business owners, news articles, customers and competitors of businesses, industry trade associations, Chambers of Commerce, landlords and auctioneers, to name just a few. Where to search? Everywhere. Simultaneously.
But before even starting to look, smart business buyers make a thorough analysis of themselves. This way, you can demonstrate your qualifications, up-front, to a seller (or the seller’s broker) to prove you're a viable buyer of the business.
Here's are five key ways to demonstrate your qualifications:
1 Your résumé
Give examples of your accomplishments. You're not looking for a job; the seller wants to know what you've accomplished. So don't simply list your line of work or your job title during your years of work or business ownership.
2 Your team
The buyer who represents himself in all aspects of the purchase has a fool for a client. Have competent accounting, tax, legal and business acquisition assistance to locate and evaluate businesses. A seller seeing that you've assembled a team of experts recognizes you as a serious and capable buyer.
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