Buying A Business

Smooth Transition: How to Buy a Business and Keep the Existing Employees

When you buy an existing business, as well as taking on the running of the operation, you may also find yourself with a whole new set of employees. If you wish to keep on the existing staff – and you are usually under no obligation to do so – the changeover process must be handled delicately. A business takeover is a stressful time for employees, and on top of that, there are … [Read more...]

Buying a Business: Forget Trust – Understand Due Diligence

According to the U.S. Bureau of Labor Statistics, over 50% of start-up businesses fail within five years. This is a staggering statistic and one that should bring concern to anyone seeking to start a new business venture. An alternative to starting a new business is to purchase an existing establishment. This option, if all goes right, can significantly decrease the risk … [Read more...]

Transitioning a Family Business: How to Do It and Keep the Family Intact

Statistics compiled by Johnson Cornell University tell us that 40 percent of all U.S.-based family businesses, of which there are approximately 5.5 million, are passed down to the next generation. From there, about 13 percent keep their doors open long enough to be transferred to the third generation, and a mere 3 percent are ever held in the fourth generation’s hands. While … [Read more...]

Tips for Purchasing an Existing Small Business

Starting a new business from scratch can seem overwhelming. That’s why you may be considering buying an existing business and then giving it your own personal stamp. There are definite advantages to buying an existing business. In most cases, you are buying an established brand, an existing inventory and a customer base. These intangible assets can make your start-up less … [Read more...]