Rene V. Richards - How to Buy and/or Sell a Small Business for Maximum Profit: A Step-by-Step Guide

How To Buy And/Or Sell a Small Business for MaximuM Profit

A Step-by-Step Guide

REVISED 2nd Edition

By Ren V. Richards

Updated by Constance H. Marse

HOW TO BUY AND/OR SELL A SMALL BUSINESS FOR MAXIMUM PROFIT A Step-by-Step Guide REVISED 2ND EDITION

Copyright 2013 by Atlantic Publishing Group, Inc.

1210 SW 23rd Place Ocala, Florida 34474

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SAN Number: 268-1250

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be sent to Atlantic Publishing Group, Inc., 1210 SW 23rd Place, Ocala, Florida 34474.

Library of Congress Cataloging-in-Publication Data

Richards, Ren V., 1965-

How to buy and or sell a small business for maximum profit : a

step-by-step guide / Ren V. Richards.

p. cm.

Includes index.

ISBN-13: 978-1-60138-932-9 (alk. paper)

1. Sale of small businesses. 2. Business enterprises--Purchasing. 3.

Small business. I. Title.

HD62.7.R535 2006

658.164--dc22

2006013810

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Preface

Business owners invariably will tell you that owning your own business is one of the most challenging and rewarding positions you will ever hold. Would they do it again? Some would. Some would not.

As for me, I now delight in occupying the spectators chair. Just as the athlete retires to the role of sports commentator and no longer actively participates in the sport, I have found an undeniable satisfaction in watching from the sidelines, evaluating, discussing, and analyzing. There is no greater joy
for me than to observe a beginner in the game.

The zeal for success and the gleam of desire are always a part of a beginning players attire.

I have participated in more business ventures than I care to recount; and at the end of the day, I was as much in love with the idea of the business as I had been at the beginning. I hope this book will serve as inspiration as well as guidance for the novice entrepreneur who is embarking on the journey of a lifetime.

Foreword

One of the most challenging and rewarding steps that an individual can take towards fulfilling the dream of financial and creative freedom is to start, buy, or operate their own business. The journey of a thousand miles begins with the first step, but that first step can be an overwhelming challenge without the knowledge you need to complete the journey.

Business ownership is one of those tremendously rewarding, yet often overwhelming journeys. Locating the information you will need to make the journey a success is often quite difficult and time consuming. This book provides the reader with the information necessary to take an idea from conception to completion in a successful and self-satisfying journey.

One of the most important steps an individual will take begins with an examination of self; readers that use the information in this publication will find that they already have taken the first step to success and have the necessary tools at their fingertips to successfully finish.

In my position as vice president of human resources, I am in contact with individuals of every description and within every discipline that cause me to address the following issues most frequently. How does the organization:

1.Implement and manage change,

2.Design the organization to be the most efficient,

3.Develop people in order to achieve business goals, and

4.Determine the metrics by which success should be measured.

These issues are essential to achieve sustained business growth and plan for future expansion. This publication provides one of the most effective methods for managing not only the business, but the resources necessary for success and evaluating the business for potential profitability.

Denise Starcher, MBA, SPHR, is currently the vice president of human resources for the Latin American division of U.S.-based global leader that protects and optimizes critical infrastructure for data centers, communications networks, health care, and industrial facilities. An innovative HR professional with expertise in change management, organizational effectiveness, employee relations, compensation and benefits, and training and development, for the past 18 years, she has focused on enabling organizations to achieve sustained business growth while embracing change. She holds an MBA in general management from Georgia State University, and a Bachelor of Science degree in psychology from Centre College in Danville, Kentucky.