One popular way to get started with a scrapbooking business is to find a scrapbook business for sale. Or, maybe you already have a business, and you might be looking to expand or grow your business by taking over someone else’s.

Before you starting looking to buy a scrapbook business, there are some important considerations to think about:

Why is the scrapbook business owner selling? Some owners may sell only because they’ve moved on to something else or maybe they have family responsibilities that need their full attention. Others might be selling because they are not able to make a profit. Someone who is not making a profit may not be marketing or operating the business to its full potential – or it could mean that perhaps there is not enough of a target market or demand for the products and services the business provides.

How Will Taking Over the Business Benefit You?: If you do not already have a business, then perhaps purchasing one will help you get a head start amongst your competition or help you begin with a strong customer base. But, for some, it could mean extra expenses and responsibilities that you may not have expected. Be sure that you have the right intentions for when you are buying a business.

How Much Work is Required? It’s important that if you purchase a business that is already established, that you realize it may need just as much work if not more than starting a similar business from scratch. Perhaps the previous owner did not do much marketing, and now you will have to take over all of that, or maybe you want to add products and services the previous owner did not capitalize on.

What is Your Ideal Business to Buy?: If you are going to purchase an existing business, it’s important that you take some time making sure that you do some comparison shopping and that this business offers what you want. Some important factors might include website/brand name, what is included with the sale, if the business has a customer base or email list, etc. etc.

Is the Cost Reasonable?: Most scrapbook business owners I see selling their websites and businesses are not selling at “fair market value” but instead “fair emotional value”. Starting a business takes a lot of patience, time, and investment – and even if their business may only be worth a small amount, they may want to sell it for much more than it is actually worth. A good example of this was a digital scrapbooking website I was interested in. The seller wanted to sell it for $10,000. The problem? Their monthly revenue after expenses was only $200. It simply was not a good decision to spend that much for it. Make sure you research what similiar businesses are selling for so you have a good estimate of fair market value.

Legal and Tax Implications: Buying a business should always involve speaking to your accountant or tax advisor and a business attorney. Purchasing a business will affect how you do your taxes, and you will also want to make sure that you are following all applicable laws in your state about buying a business. You may also need to consider things like the type of business (LLC vs. sole proprietorship for example)

Once you have carefully weighed the pro’s and con’s of purchasing an established business, and have done your research to verify that there is still a demand for the product and services, your next step is to of course find your ideal scrapbooking business.

Here are some popular places to try:

Flippa.com: Flippa is my favorite website for selling and buying websites. I do not often see many scrapbooking websites for sale there, but it can be a great opportunity to find out about different online businesses that are for sale. I personally have sold several websites there and have been very happy with the results.

Craigslist: Many businesses will also sell their business on classified websites such as Craigslist and others. This can be a great opportunity, but remember that you’ll have to carefully research the business you are buying, as well as take into consideration any legal factors.

Local Real Estate Offices & Business Brokers: If you are looking to purchase a scrapbook store or other similiar type of business, these types of businesses are typically sold through brokers. Real estate offices may be in charge of selling or leasing the business space, a business broker may be in charge of selling the entire business and all of its assets. Check your local city’s commercial real estate listings, as well as check with any local or national business brokers that do business in your city and state.

Go to Owners Directly: Another method of finding a scrapbook business for sale is to go directly to the owner and ask if they have ever considered selling their business. This is especially effective if you notice a business is struggling to keep its doors open and the owner seems overwhelmed or disinterested. But, bear in mind, some owners may take great offense to this, so it helps to establish a bit of a relationship with them first. You may also be able to work out some sort of partnership with the existing owner.

Buying an established scrapbooking business can sometimes be more work than starting one from scratch. But, in some cases it can also be a lucrative way to start with an established customer base or get a head start above the competition. Remember before purchasing any business that you discuss it in detail with your tax adviser and business attorney.

And, of course, if you need any help in marketing your newly acquired scrapbooking business, we at ScrapVenture are more than happy to help! Click Here to Learn How ScrapVenture Can Help Your Scrapbooking Business.

Have any tips for purchasing a scrapbooking business or finding one for sale? Share your comments below!