15 Hidden Benefits of Acquiring a Business in a Small Town

While some blame COVID for the seismic shift in workplace culture, to be honest, the culture was shifting long before then. People in offices are feeling caged and are looking for a way out.

This is it.

Here are 25 little-known benefits of acquiring a business in a small town, or as I like to call it, “Do you believe in life after corporate?” I’m still working on it. I’ll keep you updated.

1. More Than Just a Business, It’s a Lifestyle

The transition from corporate life to small-town living is not just about the business. It’s also about changing your lifestyle. Marrying business and pleasure results in more than getting by. It’s really living, and for some, for the first time. It’s about becoming part of a community, where everyone knows your name and supports your business.

2. Lower Overheads, Higher Margins

Acquiring a business that’s already established has many wonderful benefits, one of which, is lower startup costs. An established business has built-in supply chains and everything already in place. Aside from a facelift, you are ready to start making sales on day one. Lower overhead and startup costs result in higher profit margins.

3. Built-In Customer Loyalty

Tight-knit communities have a strong track record for supporting local businesses. This support has made many news headlines, feel-good stories, and a show of heartfelt commitment to one’s community. Once you win over the locals, they will continue to support your new business like they supported it under the previous owners. Your new ownership may also intrigue some locals, fueling a significant sales boost right out of the gate.

4. Simpler Supply Chains

Sourcing and logistics in smaller markets give you much greater leeway when it comes to the establishment of a reliable supply chain. It also helps your negotiating platform regarding better rates and fees. Additionally, in many cases, established businesses already have supply chains. This means you can continue under a current contract or create a new one without much issue.

5. Access to Local Incentives

When starting or acquiring a business in a small town, they typically offer grants, tax breaks, and community-driven financial benefits. This provides a much-needed break regarding some of your financial burdens. Leveraging local incentives can boost your business in more ways than one.

6. Less Competition, More Market Share

One of the most underrated benefits of acquiring a business in a small town is finding unique opportunities in underdeveloped niches. In smaller settings, such as tight-knit communities, there is often less competition in these niches, which means you have a greater chance to dominate the market and increase your market share. Leveraging this means incorporating your corporate skills when developing your business plan.

7. Faster Word-of-Mouth Growth

In smaller settings, such as tight-knit communities, word of mouth travels faster than a bullet train without brakes. Leveraging the power of gossip can fuel a fast reputation. Making it count can lead to quicker establishment, deeper roots, and a greater revenue stream than planned.

8. Personalized Customer Experiences

Living in a smaller community setting also leads to the potential of building strong, meaningful customer relationships. These relationships fuel more growth than the most expensive marketing. This benefit is a net plus for a strategic-minded entrepreneur.

9. Room for Creative Freedom

The corporate machine is just that, a machine.  It has rigid protocols, rules, scripts, and everything else in place. But it doesn’t have room for creativity, for doing new things and taking chances. Buying an existing business in a small town offers the flexibility to innovate without all the corporate constraints. It’s a canvas for your entrepreneurial creativity.

10. Work-Life Balance Reimagined

Instead of working to live, you’ll be living every day. The entire concept of work-life balance will have new meaning. It’s like the saying goes: “If you love what you do, you’ll never work a day in your life.”

11. Affordable Real Estate

It is typically easier to get ahold of prime residential properties at lower costs in small towns. The masses gravitate toward urban centers, metropolitan areas, etc. However, the more niche the business location is, the more focused the buyer group is, and the lower the real estate costs are usually.

12. Reliable Local Workforce

In smaller communities, finding hardworking employees who are loyal and value gainful employment in their local market is easier. Choosing from a more focused pool of applicants results in finding gems: Good workers who value their jobs.

13. Simplified Permits and Regulations

In small towns, navigating local laws and regulations is far more tenable. You can apply for and get approved for a business license and permits more quickly than in big cities. Some jurisdictions have extremely lenient regulations for starting new businesses. Buying an established business means most of the legwork has already been done.

14. Stronger Personal Network

You have the power to develop meaningful, supportive connections. These relationships can have a massive impact on your business, but they can also have an even bigger impact on your personal life in your new community. This network can introduce you to new places, events, activities, and so much more.

15. A Place to Make a Lasting Impact

In a small town, you have a real opportunity to build a legacy recognized and valued by your community. You can make a difference in your life that can reverberate to your business and personal relationships.

Things I Hope You Take With You

Among the many benefits of acquiring a business in a small town after leaving your corporate position is the fact that you have an opportunity to reinvent your life completely. You can build something already on a solid foundation, giving you less stress and worry. You can enhance your lifestyle by doing more of the things you love. Maybe you’ll even discover new passions and hobbies. 

Opportunities for change and growth are endless in a new place and a new venture. New relationships, contacts, and a brand-new network will make you feel rejuvenated and energized. There are many benefits to acquiring a business in a small town after leaving corporate life. One of the biggest, undoubtedly, is your ability to find yourself all over again. Or for the first time. It’s a journey of self-discovery and personal growth.