As BusinessesForSale.com continues its research into the business buying market, 409 buyers from across the United States offer valuable insights into the ebb and flow of the buying market.
Data demonstrates that US buyers want ownership over their life, with financial independence and freedom being the key drivers for purchasing a business.
The survey shows that 47% of participants run their own businesses, while 38% are in full-time employment.
“Our research shows that the pandemic has accelerated an appetite for change. There’s a clear increase in first-time buyers entering the marketplace, as they want to be in charge of their work-life balance,” says BusinessesForSale.com North America Director, Bruce Hakutizwi.
Popular businesses include gas stations with convenience stores, the automotive repair industry, hospitality, e-commerce, and software as a service .
The survey also uncovers some unique interests like aerospace, aviation, golf courses, and plant nurseries.
Likewise, 35% of participants are interested in buying an online business, attributed to the following advantages:
- Geographic flexibility
- Convenient and cost-effective
- Ability to reach a larger market
- Optimized operations
The survey also shows that 11% of buyers are looking to purchase a business over US$2m, while 14% are looking for businesses valued between US$500K and US$1m.
Buyer also has cash on hand for deposits, with 18% of buyers having over US$500K, and 28% having between US$100K and US$250K.
Statistics demonstrate a close tie between first-time buyers and experienced buyers. 51% of participants have bought a business before, and 49% of participants are new to the business buying market. First-time buyers indicate that they are tired of working for someone else and wish to pursue their dream of ownership, freedom, and securing their future.
US buyers are focusing on long-term security, with entrepreneurs looking to invest in their quality of life, and business owners exploring new avenues of income and expansion.
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Other valuable information:
BusinessesForSale.com is owned by Dynamis Ltd, a privately owned company based in London.
BusinessesForSale.com is the world’s leading platform for businesses for sale, with over 61,000 opportunities.
The site connects buyers and sellers, seeing over 1.2 million visitors every month, including 80,000 monthly inquiries.