Guidant Financial Group Blog

It’s a wise person who knows their limitations. This might explain why nearly half of new business owners working with Guidant seek professional help with their buying decisions. According to a survey of our clients using retirement funds to finance their new business, 46 percent of them use consultants or brokers in the search for their new enterprise.

We know that the majority of our clients are highly educated, successful people. It’s unlikely these folks have gotten to where they are without recognizing the value of input from others – especially when making a decision as important as buying a small business or franchise. A good consultant or broker knows the industry intimately, can provide multiple listings (with “insider” information), and can offer expert advice on the current market, fair pricing, competition, pitfalls and benefits.

Smart business people also recognize the value in the personality-and-interests questionnaires many consultants use in helping their clients focus in on the franchise or business opportunities best suited for them. As much as we all like to think we know ourselves inside and out, some of these in-depth questionnaires can still reveal new information and, sometimes, even a few surprises!

I’m certainly not suggesting that those considering the purchase of a business rely solely on consultants to do their legwork for them. Your own due diligence should include some heavy duty website searches and exploration of various organizations offering assistance. In fact, our Guidant survey also found that 19.7 percent of entrepreneurs find their business online and 9.7 percent find their opportunity via a franchising organization or franchisor directly.

That said, however . . . ultimately, personal relationships rule. Many prospective business owners don’t want to rely on websites alone to find the opportunity of their dreams. After all, websites don’t get to know your unique skills and personality, and they don’t listen to your concerns, frustrations and desires. Consultants do.