Tips for Buying a Hotel Online
By Mike Handelsman Group General Manager, BizBuySell.com | October 28, 2008
Whether you are buying a hotel for the first time or an experienced owner looking to invest in a new business, the process can be intimidating. Although it is usually not easy, entering the buying process fully prepared can save a great deal of time and frustration, making it easier to close a deal on a hotel that is perfect for you.
According to a recent Yahoo Inc. poll, two-thirds of Americans have entrepreneurial aspirations, and in addition to other popular types of businesses such as restaurants and auto repair shops, many entrepreneurs purchase hotels.
For would-be hotel owners, there are plenty of businesses to buy, either independently or with the help of a business broker. Going into business for yourself or buying a new hotel will undoubtedly require large amounts of commitment and drive to overcome fear of the unknown, but keeping four critical factors in mind can help ensure success when investing time and money into a new business.
1. Use online resources to shop for opportunities
The easiest way to learn about your buying options is to research the hotels available via an online business marketplace. Newspaper classifieds include only a small portion of the businesses for sale in one area, while an online marketplace is more expansive.
This kind of site offers a database full of available hotels in any area, which means that you can search locally or anywhere in the country if you are considering a change in location.