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Profit from the experience and insight gained in negotiating more than two thousand business transfers. This practical guide, written in understandable “shirt sleeve” language, simplifies a very complex subject. The book focuses upon the motivations and perceptions that drive a sale and the software “crunches the numbers.” Case studies and examples are provided to illustrate every major point.
Notice the title is not Buying a Business Made Easy. If we learned anything in the process of selling two thousand businesses it is that buying a business is not easy. In fact it is probably going to be one of the most difficult things you have ever attempted to do. Why is buying a business so difficult? The short answer is that the rules for buying/selling a business differ from those for selling essentially anything else you can imagine.
Perhaps these three examples will illustrate:
Business owners would constantly tell us that they didn’t want people to know their business was for sale.
Most business buyers would confide they were unsure of exactly what type business they wanted to buy. They could tell us what they didn’t want and, as with art, would know the right business when they saw it.
When it comes to price, if you ask twelve people what a business is worth you will probably get as many answers.
To summarize. Sellers don’t want you to know what they are selling is for sale. “Don’t let anyone know my business is for sale but sell it quickly.”
- Buyers want to buy something but they don’t know what it is.
- Both want a fair price (whatever that might be).
Seven additional differences are explained in the book with instruction on how to turn these differences to your advantage.
The Business Buying Guide was assembled to address and solve these issues and many others as well.
For example, one of the first issues addressed is How to Identify Your Ideal Business. We have devoted an entire chapter to this subject and developed a matrix for you to use as you screen businesses for suitability. This foundational part of your quest is critically important to your success not only in finding your ideal business but your success after the purchase as well.