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Buying A Business in California - The #1 Book On Buying A Business

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Buying a California business for most business buyers can be a daunting experience. This easy to read, informative book gives potential business buyers of California small businesses a real advantage when buying a business.

Statistics show that only 20% of all business buyers who set out to buy a California business actually follow through and buy one. This book addresses all the issues of why buyers fail and what they need to do to be successful in buying a California business. Did you know you can buy a business with little down payment; that many business brokers and agents don't cooperate with each other (what you need to do to counter this); and that most potential buyers don't know the best way to search to find ideal businesses to purchase.

Over 70% of all California business owners who put their business on the market never end up selling! Reasons vary and the common ones are: too high a selling price, unrealistic deal structure, or not being ready for sale in the first place (the first month of the selling process is the most important - you have to be ready!)

All business owners should be proactive and start thinking about the sale of their California business well in advance - not at the time they have to sell it. Having sold my own California businesses either myself or through business brokers and also having experience as a business broker and consultant for the past 15 years, I know what it takes to successfully sell a California business. In this book I share with you all the successful strategies it takes to be successful in ~ Selling A California Business.

Also Available: Selling a California Business

About the Author: Peter Siegel, MBA has started, sold or bought six of his own businesses, and brokered the sale or appraised thousands of California businesses over a 12 year period as a California business broker and consultant. He is currently the founder and president of www.BizBen.com - California Businesses For Sale (established over 8 years) - the largest website of thousands of businesses for sale / businesses wanted to buy in the California marketplace. He has both an undergraduate degree in Economics and an MBA in Entrepreneurial Studies from UCLA. The ultimate authority on selling and buying California businesses, Mr. Siegel has been written up in Entrepreneur Magazine, The Los Angeles Times, The San Francisco Chronicle and in numerous business journals and local newspapers throughout California. He is also the author of Selling A California Business - The Ultimate Guide For California Business Owners, and Businesses For Sale - How To Buy Or Sell A Small Business.
WHAT IT TAKES TO BE SUCCESSFUL AS A BUSINESS OWNER
Not Everyone Is Cut Out To Be a Capable Business Owner
Management Ability-Not Necessarily Inherited
Characteristics Needed For Success
Conclusion
Key Points from This Chapter

SOME CHOICES TO MAKE
Buying Rather Than Starting from Scratch
Full or Part-Time Involvement
To Be or Not To Be a Franchisee
What Industry Is For You?
Conclusion
Key Points from This Chapter

PREPARATION
Communications
Assemble Team
Your Acquisition Resume
Financial Preparation
Time is of the Essence
Conclusion
Key Points from This Chapter

HOW TO LOCATE AVAILABLE BUSINESSES
On-Line Listings
Classified Ads in Print
Business Brokers and Agents
Advertising for Businesses
Include Advisors and Vendors
A Guerrilla Campaign at the Source
Conclusion
Key Points from This Chapter

HOW TO CHOOSE A BUSINESS BROKER OR AGENT TO HELP YOU BUY A BUSINESS
Brokers, Agents, Brokerages
How Business Brokers and Agents Can Help You
Characteristics to Look for In a Broker or Agent
Conclusion
Key Points from This Chapter

HOW TO WORK WITH YOUR BROKER OR AGENT Benefit of Being Straight Forward
Maintain Good Communication
Reminder About Your Realistic Expectations
Respect for your Representative and the Protocol
Should you Pay a Business Broker or Agent to Represent You?
Conclusion
Key Points from This Chapter
HOW MUCH SHOULD YOU PAY FOR A BUSINESS -1?
What Doesn't Work
The Market Approach
Adjusting the Initial Figure
Market Realities
Conclusion
Key Points from This Chapter

HOW MUCH SHOULD YOU PAY FOR A BUSINESS 2?
Cash Requirements
Collateral
Do the Math
Earn Out
Delayed and Balloon Payments
Conclusion
Key Points from This Chapter

SMART SEARCH PRACTICES
Patience is a Key Requirement
A Little Discipline
Be Ready to Move
Selling Yourself to the Seller
Conclusion
Key Points from This Chapter

A LITTLE PLANNING GOES A LONG WAY
Why You Should Write a Business Plan: planning discipline, planning benefit
Your Planning Skills
Elements of Your Plan: Objective, Background, External Circumstances, Factors Internal to the Organization
Using Your Business Plan
Conclusion
Key Points from This Chapter

GETTING THE MONEY
Seller Financing
The Cheapest Conventional Money
Bizbuyfinancing.com
Traditional Sources
Innovative Financing Strategies
A Note of Caution
Shared Equity
Conclusion
Key Points from This Chapter
THE OFFER
Letter of Intent
The Offer Includes
What You Want
What You Don't Want
Conclusion
Key Points from This Chapter

NEGOTIATING FOR WHAT YOU WANT
Don't Take it Personally
Remain Focused on Your Objective
Importance of Flexibility
Starting from the Bottom Line
Building from Consensus
Take a Time Out
Conclusion
Key Points from This Chapter

THE DEAL
Using Your Attorney
What's Included in the Purchase Agreement-Basic Provisions
What's Included in the Purchase Agreement-Special Provisions
What's Included in the Purchase Agreement-Escrow and Legal Provisions
Conclusion
Key Points from This Chapter

YOU'VE GOT AN AGREEMENT. NOW WHAT?
Why Half the Deals Fail
Using Your Accountant for Financial Due Diligence Analysis
Other Due Diligence Tasks
Conclusion
Key points From This Chapter

THE WORKINGS OF ESCROW
Opening Escrow
Waiting it Out
The Close
Conclusion
Key Points from This Chapter

Buying A California Business eBook By Peter Siegel
Michael Brewer, ABC License Consultant
Yogurt Shop For Sale
Steve Erlinger Coin Laundry Broker
Willard Michlin Due Diligence Services
Equipment Rental Company For Sale
Ryan Clark Business Brokerage Services
Instant Email Alerts On BizBen
Advertise On BizBen
Business For Sale California Stats
New Postings Reports On BizBen Sign Up
BizBen Blogs And Articles

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