So, I’ve been thinking about buying a small business in Seattle for a while now. It’s a big step, and honestly, it’s been a bit of a rollercoaster getting here.
First, I started by just browsing online listings. You know, just to see what was out there. I spent hours scrolling through different websites, filtering by industry, price range, and location. It was overwhelming, to say the least. There are so many options, from coffee shops to laundromats to little boutiques.
After a few weeks of casual browsing, I decided to get a bit more serious. I made a list of the industries I was most interested in, based on my own skills and passions. I’ve always loved books, so naturally, bookstores were high on my list. And I’m a decent cook, so maybe a small cafe or a food truck seemed doable, too.
Narrowing Down the Search
- Focused on bookstores and food-related businesses.
- Started contacting brokers.
- Looked at financials (profit and loss statements, balance sheets… ugh, numbers).
Then came the hard part – actually talking to people. I reached out to a few business brokers who specialized in the Seattle area. They were a huge help, guiding me through the process and setting up meetings with sellers. I learned a lot about due diligence, which basically means digging into the business’s financials and operations to make sure everything is on the up and up.
I visited a few different businesses, asking tons of questions. How long have you been in business? What are your biggest challenges? Why are you selling? It was a bit nerve-wracking, putting myself out there like that, but it was essential to get a feel for the businesses and the people behind them.
Almost There…
- Visited several businesses in person.
- Asked lots of questions (maybe too many!).
- Started to get a feel for what I really wanted.
Right now, I’m zeroing in on a couple of promising options. One is a cute little bookstore in Capitol Hill, and the other is a food truck that specializes in gourmet grilled cheese sandwiches (yum!). I’m working with the brokers to get more detailed financial information, and I’m also talking to a lawyer and an accountant to make sure I’m making a smart decision.
It’s definitely been a journey, and I’m still not quite there yet. But I’m feeling more confident with every step I take. Hopefully, in the next few months, I’ll be able to share some good news! Fingers crossed!
