You’re buying an existing business. Congratulations! Before you close the deal, here are a few things to keep in mind: Buy the assets, not the business. Under no circumstances should you buy stock in a business. Instead, buy the assets of the business and form a separate company...
Buying an existing business represents less of a risk than starting a new business from scratch, but it’s important that you consider your talents and interests. Being honest about your skills and experience can help you make the right choice. Only you can determine the right business for your...
Are you ready to be your own boss? Are you ready to get up in the morning and fight like a lion to make it happen? Are you ready to make no excuses and find solutions? Are you ready to feel like you are going to make it against...
Unless you are wealthy or some rich relative or friend is anxious to lend you money to embark on this new venture–owning and operating your own business–chances are good you’re going to need financing from a bank or financial institution. The very thought of going though the loan process...
Small businesses often need money. Equity financing can provide an infusion of cash and other advantages to businesses looking to grow. Equity financing is when you get cash from an investor in exchange for a share of the business. In other words, you’re selling a percentage of your business...
Matching the right buyer with the right business is a painstaking, time-consuming process. Finding a buyer for your business (for now, assume you’ve completed all the necessary paperwork and physical tasks to show and sell your business) how will prospective buyers find out about the business? And, if they...
When you drive through a residential area, you often see signs in the yard indicating a home is for sale. You might walk through a mall or business district and see space for rent, but it’s unlikely you’ll see a for sale sign. Business owners often don’t want their...
Accurately valuing a small business can be challenging for prospective business buyers, but it is an important part of the selling process that encompasses many factors. Cash Flow – In real estate, a buyer’s main focus is location. In business acquisitions, it is cash flow. Small businesses are often...
Deciding to sell your business is a big deal. In fact, it’s likely to be the biggest financial transaction in a small business owner’s life. Many business owners operate under the assumption that they will operate their business until retirement, but things can change. Too often these changes come...
Lack of training can result in business inefficiencies. It can lead to employees who aren’t motivated to improve. It can also result in the departure of employees who do want to improve. Lack of training and opportunity are key reasons that employees leave a company. Too many small business...