This is an exciting time for a buyer
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Sacramento, CA (Vocus) July 22, 2009
The California Association of Business Brokers announced they believe there is growth potential in several key industries in the current economic climate.
Although there are many businesses that would make sound investments, there are small business trends that buyers should be thinking of as they explore their possibilities of business ownership.
"This is an exciting time for a buyer," stated Ron Hottes president of the California Association of Business Brokers (CABB a non-profit trade organization) and of several Business Team Business Brokerages. "A buyer should work with their business broker to make a deal that is a wise investment and meets the buyers interests as well."
Here are some of the top small business industries that have growth potential:
Mobile technology: Despite economic woes, people want to be connected and it has become a priority in today's world. Computers, phones - all of these devices have a growing market. In fact, mobile devices are growing in certain market segments such as the Hispanic community. "People today are very connected and very tech savvy," stated Hottes. "It is a priority for people to connect with family, friends and co-workers using a variety of methods which means this is strong market to grow a business in."
Medical supplies and mobility services: As the baby boomer generation ages, the services they require will continue to grow. Businesses such as assisted living facilities, medical supply companies and fall prevention services will be in demand for a long time. "There are approximately 78 million boomers out there so the market for these businesses is huge," Hottes stated. "As this generation continues to age, it is going to need these services to retain as independent of a lifestyle as possible. Don't overlook an opportunity in this industry."
Sustainable energy: Going green isn't just a trendy saying. It is here to stay, and people are willing to make the switch to include sustainable energy practices in their home and where they work. Hottes suggest buyers look at construction related companies such as solar panel installation or sustainable energy consulting services.
Another benefit to considering buying a green business is that there are many segments to choose from. "Water, solar, even eco-friendly products are all businesses that have seen success and could have the growth potential a buyer is looking for," Hottes stated.
Hottes also says that it is important to keep in mind that these industries are still growing so you may have to search for opportunities. "As these markets continue to rise, so will the opportunity," Hottes stated. "But the bottom line for buyers with any business is to do your research and know what you are buying. There is no replacement for practicing due diligence. Working with a certified business broker can assist you in making sure you are making a sound investment."
The California Association of Business Brokers (CABB) is a professional trade association dedicated to promoting the growth and professionalism of the business brokerage community within California. CABB is the largest organization of business brokerage and merger and acquisition specialists in the state, with more than 650 members. Founded in 1986, CABB was organized to recognize the profession of business broker, to offer advanced educational programs to all members, to create and maintain credentials, help educate the public on the benefits of using licensed business brokers and to establish a code of ethics for all members.
Use of the information from the California Association of Business Brokers is solely for informational purposes. The opinions expressed in this document do not constitute legal or financial advice.