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Casual Articles - The Basic Steps Involved in the Buying a Business
Many of you are in businesses where a customer’s credit history is an important piece in the qualifying process. The social security number is just as essential as the name on the application. But what do you say to increase the likelihood of receiving that increasingly important “444-55-7777”?After building a bridge of rappor
Take the cash flow and multiply by two, then add in the wholesale value of any inventory, fixtures, furniture and other odds and ends. This will show you the value of the business itself. If there is real e
Organizing to exhibit at an exhibition can be more than simply renting an exhibition stand and then turning up on the day. There are numerous things you need to consider including: - Ensuring that your staff members are well trained and prepared for the show - Your staff have the correct and appropriate uniforms - You
With that in mind, consider using a reputable business broker. A good broker can be found in your area simply by calling or emailing their professional association, the IBBA, or International Business Brokers Association. Or, asking friends who own businesses if they’ve had good or bad experience with a business broker in the area.
Business brokers who have earned their profession’s highest professional credential will have CBI after their name on business cards. This stands for Certified Business Intermediary and assures the buyer that the broker has been properly trained and is held to high ethical standards.
If you don’t use a broker and represent yourself, then you must first determine that the business is right for you. Is it something you will enjoy doing? If it is, then check the financial health of the business.
After signing a standard non-disclosure agreement the seller should be willing to show you his tax returns for the past three years and allow you a chance to visit with his CPA. Make sure that the business is bringing in enough money to pay for itself, pay you a decent salary and cover its own debt.
Determining the true value of the business and making sure that it matches the owner’s asking price is next. After looking at the tax returns and a profit and loss statement you should be able to determine true owner’s cash flow, which is net income plus discretionary spending from which the owner benefits, such as health insurance, a company car or a company owned cell phone.
Take the cash flow and multiply by two, then add in the wholesale value of any inventory, fixtures, furniture and other odds and ends. This will show you the value of the business itself. If there is real es
In my earlier article “Who’s Got The Monkey Now? How To Find Out How Well You Manage Your Time” (http://www.nationallearning.com.au/index_files/HowToMakePeopleFeelBetterAtWork.htm) , I suggested that you may be caring for a cageful of monkeys (other people’s problems) unless you are managing your time effectively, and in particular
Business brokers who have earned their profession’s highest professional credential will have CBI after their name on business cards. This stands for Certified Business Intermediary and assures the buyer that the broker has been properly trained and is held to high ethical standards.
If you don’t use a broker and represent yourself, then you must first determine that the business is right for you. Is it something you will enjoy doing? If it is, then check the financial health of the business.
After signing a standard non-disclosure agreement the seller should be willing to show you his tax returns for the past three years and allow you a chance to visit with his CPA. Make sure that the business is bringing in enough money to pay for itself, pay you a decent salary and cover its own debt.
Determining the true value of the business and making sure that it matches the owner’s asking price is next. After looking at the tax returns and a profit and loss statement you should be able to determine true owner’s cash flow, which is net income plus discretionary spending from which the owner benefits, such as health insurance, a company car or a company owned cell phone.
Take the cash flow and multiply by two, then add in the wholesale value of any inventory, fixtures, furniture and other odds and ends. This will show you the value of the business itself. If there is real e
Recently, I decided to enlarge my sales and marketing efforts through outsourcing, so I contacted a number of service bureaus about promoting my successful line of customer service and sales training videos. I have found very few organizations that are willing to truly satisfy my needs by working on a pay-for-performance basis.
If you don’t use a broker and represent yourself, then you must first determine that the business is right for you. Is it something you will enjoy doing? If it is, then check the financial health of the business.
After signing a standard non-disclosure agreement the seller should be willing to show you his tax returns for the past three years and allow you a chance to visit with his CPA. Make sure that the business is bringing in enough money to pay for itself, pay you a decent salary and cover its own debt.
Determining the true value of the business and making sure that it matches the owner’s asking price is next. After looking at the tax returns and a profit and loss statement you should be able to determine true owner’s cash flow, which is net income plus discretionary spending from which the owner benefits, such as health insurance, a company car or a company owned cell phone.
Take the cash flow and multiply by two, then add in the wholesale value of any inventory, fixtures, furniture and other odds and ends. This will show you the value of the business itself. If there is real e
Ralph Emmerson said - "If a man write a better book, preach a better sermon or make a better mouse trap than his neighbor, though he build his house in the wood, the world will make a beaten path to his door."Apart from Google, the popular search engine, almost every other business in the world needs to advertise. The interne
Determining the true value of the business and making sure that it matches the owner’s asking price is next. After looking at the tax returns and a profit and loss statement you should be able to determine true owner’s cash flow, which is net income plus discretionary spending from which the owner benefits, such as health insurance, a company car or a company owned cell phone.
Take the cash flow and multiply by two, then add in the wholesale value of any inventory, fixtures, furniture and other odds and ends. This will show you the value of the business itself. If there is real e
Do you have an old dusty resume or are you creating a resume from scratch? Either way, this article is meant for you.Writing a resume is not that hard, but it does take a little time. You need one to find a good job, so take some time and create a resume that is professional, easy to read and reflects your qualifications in
Take the cash flow and multiply by two, then add in the wholesale value of any inventory, fixtures, furniture and other odds and ends. This will show you the value of the business itself. If there is real estate involved, hire an appraiser and add in that figure. These rules of thumb hold true for most businesses, but when you talk to your banker or SBA representative you may find some exceptions.
Arrange financing. If there is real estate involved this could be a 15 to 30 year loan. Without real estate, most lenders prefer seven year loans.
Determine how much of the purchase price the owner is willing to carry as owner financing, and if the amount seems reasonable, your next and final step is to find an attorney who is experienced in business closings. Have him check the contract carefully and if it meets his approval you are usually in good shape.
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