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

Whether you have few employees or many employees, a good relationship with those employees is important for a successful business. That relationship is also important for you and the purchaser when you sell your business. Your personality, as a business owner, affects your employees and how you de

The good old days are long gone when you could easily get a bank loan to buy a business.  Lending practices are constantly changing, and sometimes banks cannot accommodate unique business situations.  Creative financing is the norm for today’s business buyers. Fortunately, there are


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