Buy and then Build
What you'll learn
Understand why buying a small business is more profitable than starting one
How to identify the right business for you.
You are buying a business NOT a job.
Know how to use business brokers to your advantage
Requirements
Some business experience particularly marketing skills
Description
This course introduces you to the unique opportunity that exists in the business world today. Many successful small business owners are retiring and need to sell. If you desire to be the CEO of your own business then purchasing an existing small business instead of starting one is a more economical approach as studies have shown that only one in ten start-up small businesses are profitable after five years, six will fail and three will "turn dollars" that is make just enough to pay the bills. It is safer to purchase than build.This course will focus on the traits and skills necessary to become a successful entrepreneur through the acquisition process. That process will be covered in detail and upon completion of this course, you will have a good understanding if entrepreneurship through acquisition is for you.We will go over how to find the right business for you, how to approach the business owner, and how to negotiate a purchase price that is satisfactory to both you and the business owner.To find a business you will likely need to approach business brokers. The techniques of working with business brokers are discussed, You will decide whether or not to incorporate yourself before you search for a business.
Overview
Section 1: Introduction
Lecture 1 Introduction
Lecture 2 Carefully define your objectives
Lecture 3 FQA
Section 2: Buy and then Build
Lecture 4 Why buy instead of starting a business
Section 3: Preparing for your Search
Lecture 5 Choose a company that provides a dull product
Section 4: Finding the right business for you
Lecture 6 Identify potential Businesses
Lecture 7 Evaluate
Section 5: Analyzing the financial statements
Lecture 8 Overview of Financial Statements
Lecture 9 What is EBITDA
Section 6: Negotiating a satisfactory purchase price
Lecture 10 Setting the price
Anyone thinking of operating their own small business,Anyone looking for a career change
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