Just came back from Atlanta trade show, It was really fun attending and meeting so many old friends. While we were taking lunch we had a discussion about ” Why Asian Americans (Desi) are more successful in businesses like Gas stations, C-stores, Motels, hotels, Liquor stores, Laundromats and other small businesses.

Let us find the reason behind the success of our (The Asian American) community. What do you think is the reason behind our success beside our Hard work (12-15 hrs/day), family support, financial support from friends and family and many more? Any clue?

The Answer is ” We are successful because We buy existing businesses and then use all the above mentioned reasons to it. Let us see the benefits of buying an existing businesses.

1. Start up cost: There is no Start up cost which includes research, initial set up cost, location details, lots of money on hand before you know anything about business.
2. Initial Training: The existing business comes with well trained employees who knows everything about day to day operation of business.
3. Established Location: The existing business has already created an established location for a new buyer after all the research work.
4. Well established customer base: The main thing you need to keep our doors open…Customer. Existing business has invested everything to build a good customer base.
5. Vendor Relationship: When we buy an existing business, we get the ready made vendors who have been serving that business for long time. These vendors will be a great help in the initial transition period of business.
6. Credibility and trust: We call it GOODWILL …yes. The well respected business developed with great credibility and trust will ask for more money as more GOODWILL.
7. Past Financial statements: The existing business will have past and present financial records including the business volumes which is very very very (i will say very x 100) helpful in projecting your future profits and calculating the risk involved.