Step 1 – Decide why you want to sell. Have you had a bad day?  Are sales and profits declining?  Are sales and profits increasing?  Are you tired and think you need a change?  Are you having health issues?  Do you want to retire?  Do you think more lately about s

When you buy a business, you look for one that is respected in the community and has good moral values and ethics.  You also want one that has a good history and is making a good profit if it is a for profit business.  Do you want people to look at your business and think it is an ethical

Because all business owners will experience stress through a combination of things that happen at home and at work, coping with stress is a skill that must be developed.  It is important to remember that there is good stress, which is positive, and negative stress, which usually comes from reac

Retirement for small business owners can be quite different than retirement from the corporate world.  In either situation, however, it can be a gradual process or an abrupt event and is not necessarily a total severance from work and career activities.  It should be thought of as a proces

If you are buying a business where employees are members of an organized union, you will want to learn all you can about the union and the advantages and disadvantages.  The seller should have all of the information, allowing you to walk into the business understanding the union and why the emp

This is a question that's very much opinion orientated. If you ask 50 different business owners, you're likely to get just as many answers. None of which are wrong, either; they're all relevant to one's industry and background. Because this is a personal matter – and one that's based off of pe

In the world of franchising, there are essentially two main routes you can take toward opening up shop. First, you can choose your brand, obtain rights to a location, and open up a completely new branch. From scratch, you're starting a business from the ground-up. Or secondly, you can purchase a bu

As a small business owner, it is sometimes difficult to keep up with the rapid changes in technology.  If you are getting close to retirement age, you probably remember when no one had computers.  A good electric typewriter was the office luxury, and copies of letters were made with carbon

When selling a business, a major challenge a business owner will face is what to do with the proceeds of the sale.  After building a successful business for years, a great offer is accepted and a closing date is set.  This is not the time to learn from your accountant and attorney that los


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