As we all continue to grapple with the impact COVID-19 has on our finances and career prospects, it’s a good time to take Warren Buffett’s investment advice to heart. As he has famously said, “Be fearful when others are greedy and greedy when others are fearful.” In other words, when there’s stress on the economy causing widespread fear, the door to valuable opportunities opens for investors who are paying attention.
 
That’s great news if you’re considering buying into a business. An economic slowdown can be a prime opportunity to get a new business off the ground. Don’t believe it? Check the histories of General Electric, IBM, Microsoft, Facebook, Disney, Burger King, and Apple—they launched during recessions, depressions, or bear markets.
 
As your future competitors are cutting budgets and laying off talent, your new company will gain access to this flood of experienced employees. And the field of competition may narrow as some companies are unable to stay afloat. This all means that you’ll be well positioned for the economy’s recovery. As we know, no recession is permanent and the market will bounce back. Though you may start off with lower pricing and a tighter budget than you’d like, you will eventually see your sales increase and revenue rise as the market recovers.

To look at specific advantages of buying a franchise during trying economic times, check out this article, “Has Coronavirus Killed the Appeal of Franchising or Made it Stronger?”

When you’re ready to heed Warren Buffett’s timely advice, schedule a call with me to get started. Let’s make the most of today’s valuable opportunities.