[von949]

My Aunt-in-law is always telling me that now is the time to buy an already existing business in Vegas. Most business owners are desperate to sell at deep discount prices. I even met a guy selling a coin-op car wash and convenient store who is open to seller financing, or any other type of creative financing for that matter. Used to be pretty rare. I know most of these sellers most likely started their business during the height of the boom. Link below pretty much says what my aunt has been saying for a while now.

Report: Recovering economy may help local business sellers - Business - ReviewJournal.com

Financing plays a role, too. If buyers can't borrow, the price they can afford to pay drops. And credit remains tight in Las Vegas. That's why Handelsman said more business owners are helping fund sales of their companies.

There was just one hitch: Knight's bank wanted Berkow to kick in financing, as well.
"It's not what I intended," Berkow said. "If you can get all of your money out up front, why not? But once we found a bank, and that bank was quite insistent that I leave some money in the business, I said, 'OK.' I wasn't particularly concerned about leaving money behind, because it's a very solid business

[MSchu]

the main issue I see is that money is very cheap to borrow at the moment.

I dont think the economy is going to really play a roll in business viability unless you are selecting a business that is in a niche that has been severely effected already over the last 5-8 years.

[von949]

Originally Posted by MSchu

the main issue I see is that money is very cheap to borrow at the moment.

I dont think the economy is going to really play a roll in business viability unless you are selecting a business that is in a niche that has been severely effected already over the last 5-8 years.

The niche I would stay away from would be the "luxury" niche. Anything to do with massages, spas, salons, pampering, etc. Those businesses were the first to get hit during the recession.

I'm more interested in the "necessity" niche. Real estate, laundromats, auto repair shop, maybe a car wash...stuff like that.

[ScoopLV]

Originally Posted by von949

The niche I would stay away from would be the "luxury" niche. Anything to do with massages, spas, salons, pampering, etc. Those businesses were the first to get hit during the recession.

I'm more interested in the "necessity" niche. Real estate, laundromats, auto repair shop, maybe a car wash...stuff like that.

I think that's the wrong way to go about starting/buying a business. Don't pick an industry and then go business shopping. Pick something you love to do, so all those hours you spend building your business (plan on 100+ hour weeks) aren't really "work."

[aggrofish]

You're delusional if you don't think all businesses were/ are effected by the economy.

[Willy702]

Most selling businessowners who started at economic peak are not going to sell at a good price. Also look at the dynamic for starting instead of buying. I'd argue starting is ideal now, buying you run into financing issues and owners who are going to value the business on what it once was, not what it is now. Further look at all the empty retail spots open. Now is the time you can lock in a super cheap lease. Landlords give a much better deal to new tenants than they do to renewing tenants. Cant blame them either, so many businesses are getting either efficient in their need for space and employees or they are getting good at doing it virtually as much as possible.

[Golfinnova]

I would say yes; however, you need to do your homework. I bought my busineess 4 years ago after deciding I was sick and tired of working for incompetent managers who talk out of both sides of their mouths. We were able to work out financing terms with a small down payment and after 3 years of a 5-year plan had the business fully paid off.

You need to find out everything about a business such as annual revenues, total expenses, profit margins on products, staffing, fleet maintenance (if applicable), facility hours and maintenance.

It's a lot of fun but I do wear a lot of hats. Best part is my weekends are free for my family.

[von949]

Originally Posted by ScoopLV

I think that's the wrong way to go about starting/buying a business. Don't pick an industry and then go business shopping. Pick something you love to do, so all those hours you spend building your business (plan on 100+ hour weeks) aren't really "work."

I would not do that, I was just speaking in general. There is only one industry me and my wife and interested in and we are sticking with that only.

[von949]

Nevada said to have nation's No. 3 tax climate for business - Business - ReviewJournal.com

"The lesson is simple: A state that raises sufficient revenue without one of the major taxes will, all things being equal, have an advantage over those states that levy every tax in the state tax collector's arsenal," the foundation said in a statement.

[HSV2LAS]

Probably Pawn Shops - since it's famous by TV! :beer: