I Almost Bought an Accounting Business For Sale - Here's a Great Alternative

It wasn't too long ago that I was looking for accounting businesses for sale. I was also considering bookkeeping or other small businesses for sale.
But my background was in accounting and finance. I had been a chief financial officer for over 20 years in corporate America. So looking into accounting businesses for sale seemed to be the right path for me.
My situation was that I had a burning desire to retire but couldn't afford to. I was tired of the stress in my job. I was tired of working for someone else. I was tired of working 50-80 hours a week. I was tired of the long commute. I wanted out of Corporate America!
Purchasing an accounting business for sale was a personal finance decision that would affect me, but more importantly, my family. I considered several alternatives.
1. I could continue to work in my present job. I think this is the route most people take. Those people may not be willing to take the risk of doing something different. They may not be willing to put in the effort to learn something new. I think many times, people select this alternative and are miserable for all the years that follow. For me, this was not an alternative.
2. I could have found another job. Depending on your age, this could be a great solution to your problem. But it was not for me! For one thing, at my age, it would be difficult to replace my salary. And just the thought of staying in Corporate America, even though it was another job, just didn't excite me.
3. I could buy a franchise. But that would be very expensive. Besides, I think that buying a franchise was almost like buying a job. No, that was not for me.
4. I could start a brick and mortar business. I could find a book store, a retail shop, or an accounting business for sale. But I think that buying a business like that is almost the same, if not worst, than buying a franchise. It's like buying a job. More on that later.
5. I could get into a home based business - a professional internet marketing opportunity. After all, the initial investment of doing this would be far less than buying a franchise or a brick and mortar business.
I strongly considered option 4 - buying a small business for sale.
I was an entrepreneur at heart. I felt that I had the qualities I needed to do well operating my own business.
I then considered the negatives:
· Employees - I wanted to focus on the success of my business. Being responsible for employees can be very time consuming. Don't get me wrong. I have thoroughly enjoyed my relationship with employees over the years. Most were bright, motivated, and eager to learn.
But then there were a few that caused headaches. Most situations worked out. A few didn't work out as well as I would have liked.
· Vacations - Purchasing an accounting business for sale would limit my going on vacation when I wanted.
· Income potential - I felt that my income potential would be somewhat limited by the amount of work I needed to do for my clients.
· Spread too thin - Unless I had a large staff, I was going to find myself spread too thin. I enjoy having a broad range of responsibilities. But I didn't want to be spread so thin that I couldn't do a quality job in all areas.
· Purchase price - There was also the cost to purchase a business. Although accounting and bookkeeping businesses are not extremely expensive, they still may require a fairly sizable upfront cost. Despite proper due diligence, you never know for sure what you are buying.
· The economy - The future of the economy was a concern. At that time, I didn't have someone whose opinion on the economy I respected.
This was a very important personal finance decision for me. Fortunately, I made the decision that allowed me to retire from corporate America.
Well, guess what? I decided to get into a professional internet marketing business. I enjoy running my own business. I go on vacation when I want. I have no commute. I have no employees. I have unlimited income potential.
The upfront cost for my professional internet marketing business was a fraction of the cost of a traditional small business. I work with very professional people.
This business is a financial education company - not an investment service business. It projected the downturn in the economy, including the housing and banking industries, long before it occurred in 2007-2008. I will always be grateful for that.The business allows me the time to do other things that are very important to me. They include church activities, gardening, and studying investments and the economy.