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How Much Should You Spend on a Business? - Click To Read Article
The aim of this article is to give you some basic thoughts to enable you to decide how much you should be prepared to invest in a business.
There are two aspects that need to be covered:
• Deciding how much it is right in your circumstances to consider investing.
• Assessing how much of your own money will be needed to ensure your business venture is well funded.
Verifying the Information You Have Been Given - Click To Read Article
Although you will have been supplied with copies of accounts, it is vital to check that the trading information you have been given is fully truthful.
At the early stages of your discussions with the vendor you clearly have to take the figures at face value, but before you are committed you must check them out as best you can. The professionals call this process 'due diligence'.
How to Get a Loan To Buy A Small Business - Click To Read Article
Taking out a loan to buy a business is one of the smartest financial decisions you can make. By becoming proactive with your money and time, you can begin to bring in the kind of 6-7 figure yearly income that desk jockeys can only dream of.
Choosing your premises - Click To Read Article
When it comes to choosing premises for your business, it's a balancing act.
You'll have to satisfy the needs of your business, your employees, your customers and your business associates. And yourself of course.
Best Name For Your Business - Click To Read Article
Start-up businesses can save a lot of time and trouble – not to mention money – if they do some basic checks on their proposed trading name and/or their product and service names before they put them into use.
Buy An Existent Business or Start Up Your Own Business - Click To Read Article
Most people in the market to buy an existing business come from one of two camps. On the one hand, you have people who wanted to start their own business, but who were daunted by the amount of research and paperwork. On the other hand, you have people who have already started their own businesses, and who are looking to purchase another.
Starting a Business FAQ - Click To Read Article
Best time for starting a business. Starting a business is similar to starting a relationship; the best time to start a business is when you have the time to devote your attention to it.
Everything About Buying A Website - Click To Read Article
If you have been looking online to buy a website, and haven't found one that is worth considering, then you need a better way to go about this process! First, you need to adjust your thinking. Keep in mind that a website for sale listing will only give you a snapshot of the business. These listings cannot outline everything about the website.
Analyzing And Assessing The Business - Click To Read Article
One of the most important steps you will take towards buying a business will be to make a sound judgement on the viability and true worth of what you are buying. In a sense, you must play the part of a good detective and uncover the truth about the business you are buying. The first assessment you must make in evaluating a business for sale is to review its history and the way
it operates. It is important to learn how the business was started, how its mission may have changed since its inception and what past events have occurred to shape its current form.
Successfully Advertising A Business For Sale - Click To Read Article
It always amazes me when an owner or business broker goes to sell a business that they usually don't know how to successfully advertise a business for sale. They go to all the trouble of getting it ready for sale, collect all the info needed for the sale, and then "rush" the advertising portion of the process. After posting their limited, ineffective advertising they complain that the buyers they are getting calls from are "unqualified", "unprofessional", and "time wasters".
Hundreds of business buyers interviewed for my book either in person or in my focus groups gave me many valuable insights on how owner/sellers and broker/agents can "get it right" when they go to advertise a business for sale.
Choosing a Legal Entity for Your Business - Click To Read Article
There are three types of legal entity that can be used for running your business:
• Sole trader
• Partnership
• Limited company
How to Find and Assess the Business Part 1 - Click To Read Article
Finding the right business will probably take a good deal of time and research.
Types of Finance - Click To Read Article
In essence there are three main sources of money to fund a business venture:
* Equity (or capital).
* Debt.
* Grants.
Arranging Contracts - Click To Read Article
Unless the transaction is very small you will need to appoint a solicitor to act for you, in very much the same way as for buying a house.
Paying for Stock and Debtors - Click To Read Article
Stock is changing on a day-by-day basis, so it is normally paid for separately on the day of takeover when it is normal to bring in an independent firm of stocktakers to do a full stock take and calculate value.
VAT - an Overview - Click To Read Article
Value Added Tax is a very wide subject which, in its detailed implementation, affects different businesses in different ways. It is not, therefore, possible to present a complete guide here and you should take expert advice, normally from your accountant, to check how it applies in your case. However, the basic system is always the same, and the following is an overview of the general principles which will give you a good understanding of how it works.
Presentation and Marketing of the Business - Click To Read Article
Any new business will take a year to reach its full potential from a running start, and an established business needs a lot of TLC to effect a smooth changeover.
So, before you take the reins, make sure you have budgeted adequately for marketing and promotion as a very real expense in the first twelve months. How you elect to market your business depends very much on what you are selling a commodity or a service. But the basics are still the same: to put your business in the face of all your potential customers and make it stand out from the rest.
Looking at Franchises - Click To Read Article
Buying a franchise can be the right initial business for people who have never run their own business before, but like all business purchases it must be approached with caution and a lot of careful thought.
This article will give you a good overview of how to approach choosing a franchise.
It is possible to buy a brand-new franchise from the franchisor, or to buy an established one from an existing franchisee who has decided to sell. This article begins by assuming you are setting up a brand-new franchise outlet, and concludes by dealing with buying an established franchise business.
Let's deal with the theory first, and then tackle how to check out an individual franchise opportunity to see how good it is in reality.
What is the cost of franchise and what types of businesses are franchised - Click To Read Article
What does a franchise cost?
There is an initial franchise fee, followed by a commission usually calculated as a percentage of sales.
How to assess a franchise? - Click To Read Article
Buying a franchise is like buying any business: you must do your homework. Franchises are not always what they seem. All franchisors begin by sending you an information pack. This pack should set out all the major features of the franchise, and should be carefully read before any meeting is arranged.
5 Questions to Ask the Franchisor before buying - Click To Read Article
Franchising has become one of the most important and effective business growth strategies in the past quarter century. Although franchise system development dates back centuries to the times when monarchs awarded territories to tax collectors, current franchise business systems date back decades to the Singer Sewing Machine strategy of granting rights to individual business people to sell Singer products in various regions.
How to Find and Assess the Business Part 2 - Click To Read Article
Preparing to meet the owner
By this stage you have hopefully had a chance to have a quick look around, and no doubt a number of questions will already be in your mind. Make a list.
The agent will have sent you particulars. Having read these, no doubt you will have some general questions. Add them to your list.
SELLING A BUSINESS: Legal Pitfalls - Click To Read Article
Consider how to structure the sale as early as possible, and take advice from your legal and tax advisers. If your business is run through a limited company, you will need to decide whether to sell the shares of the company or just the assets.
A share sale tends to be more complicated since you are selling not only the assets, but the liabilities of the company too.
How To Sell A Website - Click To Read Article
If you have an existing website or domain name you no longer need and wish to sell it to an interested buyer for a one-time profit, or if you're a speculator looking to build a steady source of revenue by buying and reselling valuable domain names, this helpful guide will explain the steps you need to take to ensure a quick, easy and profitable sale.
Raising debt finance - Click To Read Article
There are many ways of arranging business finance apart from going along to your local high street bank. For anybody who is not particularly financially aware, some good advice is going to be needed. However, bear these two very important overriding considerations in mind from the start:
• Financial institutions lend money because they are confident in the ability of the people running the business.
• Financial institutions these days are fiercely competitive for good business.
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Financial Loan for Your Business - EvanCarmichael.com expert Timur Sultanov discusses how to get a financial loan to start a new business. First step is to find a business that you think can be a heavy earner! Many people think of taking a loan as the hardest decision of their life.
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