Buying a Small Business

Description

Many people who purchase a small business find it does not live up to their expectations -- let alone the seller's optimistic forecasts. Some buyers suffer crippling losses when their new business fails completely, and yet most of these failures could have been avoided if only the purchasers had done their homework before buying. Tony Compton has been working with small business clients for over 25 years. He knows the pitfalls and how to look behind the neatly-prepared sets of accounts to get the true picture, and the questions to ask to test the validity of information provided by the seller. He starts with the prospective purchaser, because the first question a budding entrepeneur should ask is how suited am I to go into business? He then goes on to finding a suitable business, how to deal with the current owners, examining the finances, getting a fair price, options for structuring the business and ensuring there are no surprises after you take over. He also provides a checklist to ensure you don't miss anything during the buying process. In his easy-to-read style, the author uses his many years of accounting experience to guide you through every step, and provides examples along the way.