BusinessMart.com strongly recommends this book on
buying a business
. For more information read below. To purchase this book click on BUY NOW.
Here are the topics covered:
Why buy a business and what to consider
The ten commandments of buying a business
The right business for you to buy
Timing when buying a business
Where to look
Why every business is for sale and how to approach the ones that aren't
Franchises-should you even consider one?
Working with professionals when you buy a business
Financial statements-basic accounting for buying a business
The seller and their importance
Focusing your search on the right businesses
Visiting the business - the key questions to ask every seller
Gathering information on the industry and the competition
Valuing a business to buy
Negotiating the deal & making an offer
Financing the purchase
Due diligence - a 200-point checklist & strategy guide
Pulling the trigger
Closing the deal
Post purchase priorities
Here is a sample of what you will learn in just one section of How to Buy a Good Business at a Great Price...
WHY BUY A BUSINESS AND WHAT TO CONSIDER
In this section we'll review all of the considerations to be made: the upsides, the downsides, and all of the personal, professional and family considerations that must be factored into your decision.
There is only one reason "why" you should buy a business: because you want something better than whatever it is that you are presently doing. Most people spend their whole life "making a living" and completely forget to make any money!
There is absolutely no better investment vehicle than owning a good business. Not stocks, not bonds, not even owning your own home. Whatever it is that you can possibly want in life from a financial and lifestyle perspective can be gained from owning your own business.
In this section, you will learn:
Understanding and outlining your reasons for buying.
Why business ownership is the quickest route to riches.
How to form the right attitude to buy that will immediately set your head straight for this project.
Why looking to "buy a job" is the wrong approach.
Learn to buy benefits and the future lifestyle business ownership will bring.
Discussion of the potential financial rewards.
Controlling your own destiny and the challenges to consider.
How to creatively attack any potential business purchase.
Financial considerations you must make.
Learn the 12 things you must do today to get your finances in order to make a purchase.
Why you must realize that there is no such thing as a secure job unless you own the company!
How your past professional career has already prepared you for the risks you may face.
What are the downside possibilities?
How to overcome all obstacles if you've never been in business before.
A three-step system that will overcome any lack of experience you may have.
Understanding the objections and situations you will face with family members and how to include, not exclude, them.
The attitude you need if this process is new to you.
Deciding if you are window-shopping or committed to buying.
Why 90% never buy and how their "looking" paralyzes them to make any decisions.
The reasons why your best chances of success are in buying an existing business.
The tax benefits of business ownership.
The pros and cons of looking for something specific and why you must keep an open mind.
How long will it take to buy the "perfect" business? (By the way, there's no such thing. We'll explain why.)
Ready! Aim, Aim, Aim! Learn why others can't make that final leap and how you will avoid their dismal fate.
Preparation and completion of your Personal Financial Statement (interactive worksheet).