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

A large percentage of businesses are owned by women.  Through a combination of societal and political change, women have entered the workforce in record numbers since the 1970's.  Legislation aimed at curbing discrimination on the basis of race and sex has enabled women to move ahead in ma

I Think I Want to Buy a Business.  Where do I start? If you are reading this, you are starting in the right place!  Knowledge is power, and you are getting more educated about the marketplace, the process, and the risks and rewards of owning your own business. This website is a place wher

When buying or selling a business, negotiation should lead to a win-win situation for the purchaser and the seller.  A win-win situation allows both parties to leave victorious, getting something they want.  This is the optimum situation, as both the purchaser and seller want the business


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