Buying a Business for Dummies
Buying a Business For Dummies guides you through the process of becoming an entrepreneur without starting from scratch. Before you purchase an existing business, you'll need to know what types of opportunities are out there, how to identify the right fit for your goals, and which strategies to...
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| Otros Autores: | |
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Newark :
John Wiley & Sons, Incorporated
2024.
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| Edición: | 1st ed |
| Colección: | --For dummies.
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| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009811316006719 |
Tabla de Contenidos:
- Intro
- Title Page
- Copyright Page
- Table of Contents
- Introduction
- About This Book
- Foolish Assumptions
- Icons Used in This Book
- Beyond the Book
- Where to Go from Here
- Part 1 Deciding to Buy a Business
- Chapter 1 Preparing to Buy a Business
- Figuring Your Financial Fitness
- Assess your financial position and goals
- Measuring your net worth
- Telling good debt from bad debt
- Reducing debt
- Buying insurance
- Planning for the long term
- Shrink your spending
- Build up your cash reserves
- Stabilize income with part time work
- Assessing and Replacing Benefits
- Retirement savings plans and pensions
- Health insurance
- Disability insurance
- Life insurance
- Dental, vision, and other insurance
- Social Security taxes
- Time off
- Understanding Your Time and Financial Commitments to Buy
- Stepping Toward Buying a Business
- Enlisting Help from Top-Notch Professionals
- Start with free/low-cost industry resources
- Finding and interviewing reputable professionals
- Estimating the Cost of Your Search and Business Acquisition
- Calculating a down payment amount
- Tallying search expenses
- Finding funding
- Chapter 2 Is Buying a Business for You?
- Understanding Why to Buy a Business
- To reduce start-up hassles and headaches
- To lessen your risk
- To increase profits by adding value
- To establish cash flow
- To capitalize on someone else's good idea
- To open locked doors
- To inherit an established customer base
- Knowing When You Shouldn't Buy
- You dislike inherited baggage
- You're going to skimp on inspections
- You lack capital
- You think you'll miss out on the satisfaction of creating a business
- Recognizing Prepurchase Prerequisites
- Business experience and training
- Down payment money
- Do You Have the Right Stuff?
- Getting started with the instructions.
- Answering the questions
- Scoring the test
- Analyzing your results
- Part 2 Picking the Business that Fits Your Situation
- Chapter 3 Determining Your Niche
- Why You Don't Need a New Idea to Be Successful
- Choosing Your Business
- Consider your category
- Take advantage of accidental opportunities
- Inventory your skills, interests, and job history
- Narrow your choices
- Go in search of fast growth
- Take advantage of government resources
- Chapter 4 Finding the Right Business to Buy
- Defining Your Business-Buying Appetite
- Generating Leads
- Perusing publications
- Networking with advisors
- Knocking on doors
- Enlisting business brokers
- Considering a Franchise
- Franchise advantages
- Franchise disadvantages
- Evaluating Multilevel Marketing (MLM) Firms
- Being wary of pyramid schemes
- Finding the better MLMs
- Checking Out Work-from-Home Opportunities
- Chapter 5 Evaluating a Business to Buy
- Examining Owners' and Key Employees' Backgrounds
- Finding Out Why the Owner Is Selling
- Surveying the Company Culture
- Deciding on Terms
- Inspecting the Financial Statements
- Interpreting the profit and loss statement
- Reviewing the balance sheet
- Understanding key ratios and percentages
- Return on sales (ROS)
- Return on equity (ROE)
- Gross margin
- Current ratio
- Debt-to-equity ratio
- Inventory turn
- Number of days in receivables
- EBITDA
- Uncovering Lease Contract Terms
- Evaluating Special Franchise Issues
- Thoroughly review regulatory filings
- Evaluate the franchiser's motives
- Interview plenty of franchisees
- Understand what you're buying and examine comparables
- Check with federal and state regulators
- Investigate the company's credit history
- Analyze and negotiate the franchise contract
- Part 3 Negotiating Terms and Sealing the Deal.
- Chapter 6 Figuring Out How Much the Business is Worth
- Exploring Valuation Methods: Multiple of Earnings and Book Value
- Getting a Professional Appraisal
- Tracking Businesses You've Explored That Have Sold
- Tapping the Knowledge of Advisors Who Work with Similar Companies
- Consulting Research Firms and Publications
- Turning to Trade Publications
- Enlisting the Services of a Business Broker
- Chapter 7 Financing Your Deal
- Outsourcing Financing
- Taking advantage of seller financing
- Banking on banks
- Getting money from nonbanks
- The Small Business Administration (SBA)
- Small Business Investment Companies (SBICs)
- Certified Development Companies (CDCs)
- Your state's Economic Development Department
- Angels: Investors with heart
- Venture capital
- Crowdfunding
- Minority funding resources
- Financing Yourself: Bootstrapping
- Chapter 8 Preparing a Purchase Offer
- Writing a Letter of Intent or an Indication of Interest (IOI)
- Drafting an Indication of Interest (IOI)
- Writing a Letter of Intent (LOI)
- Developing Purchase Offer Contingencies
- Allocating the Purchase Price
- Doing More Due Diligence
- Think about income statement issues
- Consider legal and tax concerns
- Part 4 Managing a Smooth Transition
- Chapter 9 Moving into Your Business
- Getting Important Things Down on Paper
- Considering the Business Entity
- Sole proprietorships
- Understanding the "solo" advantages
- Weighing the disadvantages of operating "solo"
- C corporations
- Getting a handle on liability protection
- Investigating liability insurance
- Understanding corporate taxes
- Examining other incorporation considerations
- Knowing where to get advice
- S corporations
- S corporation tax specifics
- S corporation requirements
- Partnerships
- Limited liability companies (LLCs)
- Gaining Insight from Others.
- Chapter 10 Business Owner Basics
- Minding the Details of Business Ownership
- Buying insurance
- Liability insurance
- Workers' compensation insurance
- Paying federal, state, and local taxes
- Negotiating leases
- Maintaining employee records
- Getting licenses and permits
- Signing the checks
- Outsourcing: Focus on What You Do Best
- Surveying the most commonly outsourced tasks
- Figuring out what to outsource
- Simplifying Your Accounting
- Introducing some common systems
- Manual bookkeeping systems
- Computer-based systems
- Choosing the system that's right for you
- Controlling Your Expenses
- Looking at fixed and variable expenses
- Understanding zero-based budgeting
- Managing Vendor Relationships
- Dealing with Bankers, Lawyers, and Other Outsiders
- Bankers
- Lawyers
- Tax advisors
- Consultants
- Governments
- Chapter 11 Handling Regulatory and Legal Issues
- Navigating Small-Business Laws
- Complying with Small-Business Regulations
- Complying through licensing, registrations, and permits
- The realities of compliance
- Local regulations: Taxes, zoning, and health
- State regulations: More taxes, licensing, insurance, and the environment
- Federal regulations: Still more taxes, licenses, and requirements
- Selection of a business entity
- Protecting ideas: Nondisclosures, patents, trademarks, and copyrights
- General tips for protecting your ideas
- Nondisclosure agreements (NDAs)
- Patents, trademarks, and copyrights
- A business prenup: Contracts with customers and suppliers
- Laboring over Employee Costs and Laws
- Part 5 Creating a Growth Trajectory
- Chapter 12 Keeping and Attracting Superstar Employees
- Motivating Top Performers to Stay
- Revisiting the Compensation Plan
- Reviewing the types of compensation
- Creating a compensation plan that works for your business.
- Introducing Changes to Employee Benefits
- Including insurance and other benefits
- Health insurance
- Disability insurance
- Life insurance
- Dependent care programs
- Vacation
- Flexible hours
- Flexible benefit plans
- Seeing the real value in retirement plans
- Convincing employees that retirement plans matter
- Getting the most from your contributions as an employer
- Deciding whether to share equity
- Stock and stock options
- Employee Stock Ownership Plans (ESOP)
- Buy-sell agreements
- Bringing in New Talent
- Training: An Investment, Not an Expense
- Parting Company: Firing an Employee
- Designing Flexible Organization Charts
- Valuing Employee Manuals
- Characterizing Successful Employers
- Flexibility: The bending of rules
- Accountability: Where the buck doesn't get passed
- Follow-up: The more you do it, the less you need it
- Chapter 13 Keeping Your Customers Loyal
- Retaining Your Customer Base
- Getting it right the first time
- Continuing to offer more value
- Remembering that company policy is meant to be bent
- Learning from customer defections
- Examining the value of customer loyalty
- Tracking customer defections
- Recognizing and practicing customer service
- Customer service before the sale
- Customer service during the sale
- Customer service after the sale
- Dealing with Dissatisfied Customers
- Listen, listen, listen
- Develop a solution
- Expanding Your Customer Base
- Marketing defined
- Mastering the key elements of marketing
- Part 6 The Part of Tens
- Chapter 14 Ten (or So) Ways to Learn from the Experiences of Others
- Utilize Mentors
- Network with Peers
- Form a Board of Advisors
- Find a Partner
- Join a Trade Association
- Locate a Small Business Development Center
- Give SCORE a Try
- Tap into Small-Business Information
- Chapter 15 Ten Ongoing Tax Jobs.
- Keeping Track of Your Small Business Revenues and Costs.
