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Informationen zum Autor ROBERT A. COOKE, CPA , has been the owner or co-owner of three successful small businesses. He is the author of six books, including Doing Business Tax-Free and How to Start Your Own 'S' Corporation, both from Wiley. Klappentext Most entrepreneurs interested in buying a business naturally assume they need large amounts of cash to work a deal. In fact, there are other ways to fund an entrepreneurial venture, particularly through seller financing. This simple, straightforward guide covers every possible source of financing available for wannabe business owners, how to deal with sellers, and how to use asset financing, selling equity, and asset protection. "Buy Your Own Business with Other Peoples Money shows that you dont have to be rich to buy a business; you just need to be creative in financing your new business. For everyone who dreams of owning a business one day, this book has the answers. Zusammenfassung Most entrepreneurs interested in buying a business naturally assume they need large amounts of cash to work a deal. In fact! there are other ways to fund an entrepreneurial venture for those who are prepared to think creatively. Inhaltsverzeichnis INTRODUCTION xi CHAPTER 1 The Good and the Bad of Owning Your Own Business 1 The Fictions and the Facts about Owning a Business 2 Fiction Number One: No Boss 2 Fiction Number Two: Short Work Hours 3 Fiction Number Three: You Will Have Lots of Money 4 Fiction Number Four: You Will Enjoy the Prestige of Owning a Local Business 5 Do the Advantages of Entrepreneurship Outweigh the Disadvantages? 6 Decide on the Type of Business That Is Best for You 6 Determine Your Preference or Need as to Geographic Area 7 Consider the Hours of Operation 8 Experience and Knowledge Are Important 8 Pick a Business You Enjoy 9 Creating Your Experience 10 CHAPTER 2 How Much to Pay (Borrow) to Buy a Business 11 How Much Is the Seller Asking? 11 What Do Similar Businesses Sell For? 12 What Is the Value of the Business's Assets? 13 Value the Assets at Their Book Value 14 The Book Value of Equipment 14 The Book Value of Accounts Receivable 15 Inventory 16 Patents and Copyrights 17 The Book Value of Other Assets 17 The Asset Called Goodwill 18 The Capitalization of Earnings 19 How to Determine the Real Net Income of a Business 19 Determine the Price of a Business Based on Its Earnings (Income) 24 Capitalization of Earnings and Return on Investment 26 The Sales Multiplier 28 Third-Party Information 29 Solicit Information from Employees of the Business 29 Check the Bank Statements 30 When Real Estate Is Part of the Business 31 In Summary, the Eight Methods of Valuing a Business 32 CHAPTER 3 Sources of Money for Your Business 35 Borrow the Purchase Price from the Seller 35 The "Business for Sale" Ads 36 The Seller's Motivation to Sell 38 Enticing the Business Owner to Sell to You 40 Find Cash Inside the Business 41 The Equipment Owned by the Business 42 Intangible Assets 44 Accounts Receivable 44 Excess Inventory 45 Actual Cash in the Business 46 Personal Assets That Can Generate Cash 47 Obtaining Money from Commercial Banks 48 Choose a Bank That Is Small-Business Oriented 50 Have the Requisite Experience 51 Buy a Business That Has Loyal Customers or Clients 52 Buy a Business That Is in the Right Location 52 Prepare Projections of Income and Expenses of the Business 52 Your Presentation to the Bank 53 Loans from Suppliers 55 The Shortcut-Buy Out Your Boss Using His or Her Money 57 Buy a Franchise, but Not with ...
