One way to get into entrepreneurship is by buying a business. The weak economy has provided a boost for those who are in the market for buying a business, given the wider range of available businesses to purchase. Pros and Cons of Buying a Business Buying a business represent a less risky way of starting a business. But like any other choices in this world, it has its … [Read more...] about Factors to Consider When Buying a Business
Buying and Selling a Business
What is my business worth? It's a question I've asked myself hundreds of times over my 40-year long ownership career. And valuing your business, as an exercise, is a great thing to do from time to time -- it gets you thinking and dreaming, which is not a bad thing. But it wasn't until I started buying, expanding, and selling my own businesses that I really got a feel for what … [Read more...] about Valuing Your Business: What is Your Business Worth?
For most people, selling a business is a once-in-a-lifetime event. It can be an emotional and stressful time for the owner. To optimize your success in selling your small business, it is important that you plan ahead. Here are a few important topics to consider when preparing yourself (and your business!) for the sales process. 1. Be ready to sell. There is no sense … [Read more...] about 10 Steps in Selling Your Small Business
You've just walked out of a business owner's office, who has grown an established, profitable business that he is willing to sell to you, for very favorable purchase terms, at a fair price. But you have no clue how you are going to raise the necessary capital required to complete the purchase. Sounds familiar? Pursuing a viable company to purchase is a very competitive … [Read more...] about How to Finance a Business Purchase
While no two deals are ever quite the same, the purchase and sale of a business will usually fall in to one of three categories: an asset purchase; a stock purchase; or a merger. There are numerous pros and cons for each type of transaction. Asset Purchase Probably, the easiest way to buy a business is to purchase a seller's assets, free and clear of any and … [Read more...] about Types of Purchase and Sale of a Business