Many individuals dream of owning big companies and leading admirable lives that aren’t dictated by time or schedules. Entrepreneurs are envied for the flexible lifestyles that allow them to work from anywhere while enjoying memorable experiences. The thought of struggling with a concept and turning it into a real profitable business scares off most people who would love to enjoy the fruits of entrepreneurship.
But what if someone told you that you could own that business or company of your dreams without necessarily working on it from scratch? This is quite interesting, right? Here’s how.
Purchase an Established Firm
This is as simple as it sounds. Research a business you would like to own, purchase the company, and take over the management as its new owner. The trick here is to determine how the company makes its profits and learn its operations, and figure out how you can make it better once you take over the management. You might encounter a few problems that need solving, but if the business has been making profits, that shouldn’t be a problem.
Alternatively, you could purchase a franchise that doesn’t demand too much effort and time. If you would like to start a smoothie business, for example, you only need to search for smoothie franchise opportunities online. A franchise gives you a guarantee that you are taking over a time-tested business model with products already accepted in the market. This means that you have very high chances of getting clients and making a profit.
Become an Angel Investor
There are millions of brilliant concepts out there just rotting and will probably not live up to their potentials. Most of these ideas hardly yield tangible material due to a lack of funds.
What if you had the chance to fund a brilliant start-up in exchange for a percentage of the company’s equity? This is a great idea that has helped most people benefit from other people’s business ideas. You will need to identify start-ups that have the potential to yield profits and negotiate fair terms and conditions before you fund the venture.
Sell for a Brand Independently
You can also own a business by selling for a well-recognized brand. Many realtors and insurance agents become entrepreneurs without starting their own brands from scratch using this concept. You will need to get into an alliance with an established brand and ask to sell their products and services as an independent contractor. This means you are allowed to set your working hours and lead a flexible life. Seeing that you will be handling an established brand, you shouldn’t have a hard time selling the products and services.
Start a Service Business
You want to start a simple service business that doesn’t demand start-up and equipment. Look around to see what your community demands. Is there a highly demanded need that you can fulfill? You could explore services such as dog walking, daycare, and tutoring. Think of services your neighbors would be willing to pay you to do that don’t demand intensive investment.
Become a Shareholder in Your Preferred Company
Do you want to own part of an existing company? Buying shares in a company you have been eyeing is yet another excellent way to own a part of a business. Experts recommend choosing preference shares rather than ordinary shares. Preferred shares come with the advantage of being at the top of priority when receiving benefits in the case of company liquidation. However, despite becoming an owner of the company, you will have little or no control over the business operations. The more shares you purchase, the larger the portion of the company you own.
Choosing a business to manage doesn’t have to be hard. This piece should guide you on some of the best ways to own a business if you don’t want to start from scratch. Ensure you consult the experts before investing your money.