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Buying an established business in the USA......

Buying an established business in the USA......

Old Jan 30th 2011, 2:38 pm
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Default Buying an established business in the USA......

Im UK citizen thats fortunate to have made anough money over the last 10 years to be able to purchase an established business in the USA, id like to be able to move out there and work the business. Not sure what im going to buy yet have a few ideas but probably a small gift/retail store of some type or restaurant /tea room.

Just wondered what the options are and how easy this is to arrange. I have approx $300k to invest.

Thanks for any help
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Old Jan 30th 2011, 2:49 pm
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Default Re: Buying an established business in the USA......

E2 -- the visa from hell!

You don't say anything about family. Kids can be a show stopper with the E2.
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Old Jan 30th 2011, 2:50 pm
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Default Re: Buying an established business in the USA......

Originally Posted by fcat View Post
Im UK citizen thats fortunate to have made anough money over the last 10 years to be able to purchase an established business in the USA, id like to be able to move out there and work the business. Not sure what im going to buy yet have a few ideas but probably a small gift/retail store of some type or restaurant /tea room.

Just wondered what the options are and how easy this is to arrange. I have approx $300k to invest.

Thanks for any help
that would be an E-2 visa ... not that popular ..
does not lead to a green card

http://www.investorvisausa.com/index.html
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Old Jan 30th 2011, 2:51 pm
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Default Re: Buying an established business in the USA......

Sorry should have said, just me no other family.
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Old Jan 30th 2011, 2:54 pm
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Default Re: Buying an established business in the USA......

Originally Posted by fcat View Post
Sorry should have said, just me no other family.
Slightly better bet, then.

The link Ray gave is a very good primer.
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Old Jan 30th 2011, 2:59 pm
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Default Re: Buying an established business in the USA......

Originally Posted by fatbrit View Post
Slightly better bet, then.

The link Ray gave is a very good primer.
Thanks, i'll have a read of that.
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Old Jan 30th 2011, 8:15 pm
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Default Re: Buying an established business in the USA......

Don't forget you'll still need capital on top of the investment to set yourself up, house, car, utilities etc.
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Old Jan 30th 2011, 8:42 pm
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Default Re: Buying an established business in the USA......

If you come over on an H1B and then get a green card, can you buy one?
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Old Jan 30th 2011, 8:56 pm
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Default Re: Buying an established business in the USA......

Originally Posted by stephend- View Post
If you come over on an H1B and then get a green card, can you buy one?
Look, anyone can *own* whatever they want in the US, regardless of status (and a few security exceptions.. work with me here..).
However, owning a business doesn't give you the right to work in it. If you are in the US as an H-1B, you may ONLY work for your H-1B employer. Period, full stop.

Once you are a Permanent Resident (green card) you are free to work wherever you like, including for yourself.

If you want to invest in a business and be able to work in it, you need the correct sort of immigration status.
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Old Jan 30th 2011, 10:05 pm
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Default Re: Buying an established business in the USA......

Originally Posted by fcat View Post
Im UK citizen thats fortunate to have made anough money over the last 10 years to be able to purchase an established business in the USA, id like to be able to move out there and work the business. Not sure what im going to buy yet have a few ideas but probably a small gift/retail store of some type or restaurant /tea room.

Just wondered what the options are and how easy this is to arrange. I have approx $300k to invest.

Thanks for any help
I'm sure you've thought of this but just in case: Don't allow your desire to live here cloud your judgement when considering buying a business . We all know the failure rates of small business and you'll have the added challenges of figuring how things work here, things that can be quite different from the U.K, while running said business.

I've met a few Brits who've done what you're thinking of doing and lost thier shirts in the process. I'm not trying to put a downer on your dream just saying think more than twice before taking the leap.

Either way good luck !!
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Old Jan 31st 2011, 1:50 am
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Default Re: Buying an established business in the USA......

Originally Posted by Englishman43 View Post
I'm sure you've thought of this but just in case: Don't allow your desire to live here cloud your judgement when considering buying a business . We all know the failure rates of small business and you'll have the added challenges of figuring how things work here, things that can be quite different from the U.K, while running said business.

I've met a few Brits who've done what you're thinking of doing and lost thier shirts in the process. I'm not trying to put a downer on your dream just saying think more than twice before taking the leap.

Either way good luck !!
Also not trying to be a downer but just reemphasizing what is being said above. Many of the businesses for sale are based on hyper-localized market conditions, conditions you will probably only have a basic level of understanding. Sure you might run a tire repair shop in the UK and know all there is to know about tire repair, but you'll buying a business in an area that may have 7 other tire shops (that you don't know about) or on a street that is an open air drug market at night, or the other stores have relationships with local tow companies that bring cars to them, etc. It can be quite difficult to get the necessary information from afar.

If you are thinking of a business, really do a great deal of digging into the conditions of that business, neighborhood, and community. You may consider an extended trip over to do some research. There are more than a few people sitting in a pub in the UK now after blowing their savings buying a gas station or hair salon or trying to open a chippy in the US (hint: the US is pretty well stocked on fattening fast food options).

Good luck with your efforts.
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