This generation has money to spend, so catering to their interests and to their needs is a huge and growing business niche.
Dublin, CA (Vocus) March 2, 2010
A business exchange website has posted six ideas for people wanting to buy businesses that are expected to be very successful in the new decade. BizBen.com-- businesses for sale in California points out key trends providing foundation for profitable business opportunities.
“The typical orientation of most buyers of small and mid sized businesses concerns the history of a company being offered for sale,” said Peter Siegel, MBA, founder and CEO of BizBen.com.
“What a company has done in the past is important, but the business world is changing and a solid record of earnings is no guarantee of future success.”
Siegel noted that the influence of new technologies, the “stresses” now impacting the economy and concerns about the health of the planet all “are contributing to an economic environment with some new rules.
“Entrepreneurs planning to buy businesses in the next few years need to understand what the economic landscape will look like in this new decade.”
He mentioned, for example, that consumers in many communities are starting to avoid the big-box retailers in order to bring business to retailers near their homes.
“Until recently it was considered rather foolish to buy a store selling the same merchandise as a nearby national chain store. The super store would beat you on price and their marketing muscle gives them an advantage in brand awareness.
“But we’re observing a new movement that is reversing that tide. It’s because many people resent the power and the smugness of big corporate retailers. And customers know that the dollars they spend with a local merchant are likely to stay in the community.”
Siegel cited the growing popularity of farmers markets in towns throughout the U.S. as an example of the “buy local” trend.
“For the energy conscious consumer, it makes more sense to get your tomatoes from the guy who grows them on his farm in the next county, than to purchase produce trucked or flown in from another country.
“In many areas,” said Siegel, “it means that investors who buy businesses in the retail sector have a better chance of success with a mom-and-pop store in 2010 than they would have a few years ago.”
Another trend noted by the BizBen.com CEO is the demographic “bubble” of consumers in their late 50s and older.
“This generation has money to spend, so catering to their interests and to their needs is a huge and growing business niche.”
Some senior-focused service and product areas expected to do well are mentioned in the blog along with other sectors of the economy expected to grow because of developing trends.
“I haven’t seen so many changes coming so quickly during my 30 years in business,” said Siegel. “When things are shaken up like this, you have to question the principals that have guided you in the past.
“We’re really looking at a new business climate going forward. Our advice for people who want to buy businesses is meant to help them make choices that will be successful in this future.”
BizBen.com is the most popular and widely used site for California business buyers and sellers, as well as for business brokers and other professionals who serve them. Peter Siegel, MBA, the founder and CEO of BizBen.com, has been advising people about how to sell and buy businesses for more than 25 years.
Contact: Peter Siegel