Chapter 1
Preparing to Buy a Business
IN THIS CHAPTER
Assessing your financial fitness
Replicating employer benefits in your own business
Making the time and financial commitment
Understanding the acquisition process and hiring professionals
Calculating a down payment amount and search expenses
Thinking or dreaming about owning your own business is easy and tempting to do. All it may take is knowing someone who is making decent money setting their own hours and perhaps even doing something they enjoy.
Starting a business from scratch of course is daunting and increases the obstacles and possibility for failure. Buying an existing business, possibly including a franchise, could be your ticket to small business ownership.
This chapter gives you the big picture of the acquisition process, what’s involved, the pros you should consider having on your team, and how to budget for all this. But first, we help you assess — and if necessary, create a plan to improve — your financial fitness. ...
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