KevinPoitier

The best approach when selling your business is to make a list of all the items so there is no confusion about what is being sold. This includes isolating and reporting individually any real estate, inventory, fixtures, furniture and equipment, leasehold improvements, as well as assets that are not part of the sale. Additionally, consider making a list of the current liabilities of the business and against that list, note whether it will expire when the business changes ownership, stays with the seller or will transfer to the buyer. Also, a better idea is to completely remove any personal or special items that will not be sold as part of business. This removes any ambiguity and becomes one less tension point in the transaction. Once this is done, one of the first steps to selling the business is to get an appraisal on the business as a going concern. If you're the owner of the business you may have an opinion about what the assets are worth but that opinion will not be acceptable ...

FSBO or business "For Sale by Owner" is a business owner's attempt to sell his company. Offers like FSBO can easily attract a lot of potential buyers, but you have to be wary and cautious before considering such offers. These opportunities come with significant risks most of the time. Buying an already established business, on the other hand can be a fulfilling decision. The only question is what needs to be done to lessen the risks involved and increase the chances of success in buying a business for sale. FSBO businesses as challenging opportunities As a general rule, you should never trust everything a seller says about his company. Even inexperienced entrepreneurs and first-time investors are aware of this. Why, then would it be any different in buying a business for sale by owner? Consider the following facts: First, it is possible that the owner is just attempting to increase the profits of selling his company. Surely, you would not want to shell out a lot of cash...

As the economy continues to tank, unemployment rises, essential commodity prices increase as salaries remain stale, it's no surprise people are looking to make more money anywhere possible. While we should generate a supplemental income while our lives are financially sound, most people make the mistake of waiting until their finances are in disrepair and the bills are way behind before considering options. At the point of desperation people choose counter-productive measures as a solution to their financial woes. These include taking out high interest personal loans, working a second or third job, selling their valuables, or being forced downsize their lifestyle. Can you see a benefit in any of these options? Do they bring you closer or distance you from your family? If working second jobs, taking out high interest personal loans, or giving up the things cherished the most in life, aren't options, what options exist? While most conventionally thinking people resort to the ab...

Being self-employed is the dream of many. But as one self-employed person quipped, "I used to work for a boss; now I work for a tyrant." You're the first hired, and the last to get paid. Undaunted, people launch themselves in various self-employment projects. But having found themselves on the self-employed merry-go-round, many people find the journey tougher going than they anticipated. For a lot of people it results in early retirement from self-employment and a loss of confidence in entrepreneurial activity. The blunders people make, however, are readily overcome with a little planning and thought. I've identified five common blunders, any one of which can bring a business crashing down around the owner's head. 1. Lack of funds Business needs money. You soon find it does little else but consume funds -- lots of it. If nothing else, the business needs to provide a source of income for the business owner, not as profits to the owner but as a wage or salary ...

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