| This article on businesses for sale by owner can | | | | whilst others may advertise the sale on the |
| be from the perspective of a business owner or | | | | Internet. |
| from the perspective of a business buyer. A | | | | After you have advertised the business in the |
| business can be for sale by the owner or he can | | | | proper medium/media you will receive offers. You |
| make arrangements with a broker to sell it. | | | | will need to respond to these offers. Some offers |
| Business opportunities can come in several ways | | | | may be rejected right away as they are too low |
| and has been enumerated in the second to last | | | | or are conditional. |
| paragraph. | | | | When you are satisfied with an offer and decide |
| If you are a business owner and decide to sell | | | | to sell the business you will receive payment and |
| your business yourself then the first thing you | | | | go through the process of transferring the |
| have to do is to find out the value of your | | | | ownership of the business to the buyer. You may |
| business. This can be done by ascertaining the | | | | also decide the payment method which is most |
| price that similar businesses have fetched, over a | | | | beneficial to you from a tax perspective. |
| period, say, in the last five years. The research | | | | Business opportunities can be found in your |
| for this can be done on the Internet and also by | | | | neighborhood, on the Internet and in your local |
| talking with people in a similar business. There are | | | | newspapers. It is prudent to buy a business which |
| also trade magazines which can be used to gather | | | | you know something about. |
| information. | | | | Some business opportunities come in the form of |
| You also need to decide whether you will handle | | | | franchises. To buy a franchise may be the easiest |
| all the legal matters pertaining to the sale yourself | | | | way to run your own business. When you buy a |
| or whether you need to hire an attorney. If you | | | | franchise you will receive training or guidelines on |
| decide to hire an attorney you can decide the | | | | how to run it. Examples of franchises are |
| scope of his work. The fees can be determined | | | | Subway, MacDonald and so on. |
| as an amount for the job from start to finish or | | | | While a business is for sale by owner saves the |
| you and the attorney may decide that you will be | | | | owner from paying a commission to a broker it |
| billed on an hourly basis. You should in that case | | | | may also not bring in the best offers. A broker is |
| ascertain an estimate from the attorney and | | | | usually an experienced knowledgeable professional |
| perhaps also have the phrase not to exceed in | | | | and if the broker works hard on behalf of the |
| your contract with the attorney. | | | | owner he will be able to find several buyers and |
| After you have ascertained the value of your | | | | thus several offers. The owner needs just one |
| business you need to advertise it in the proper | | | | offer to make the sale provided it is a good offer |
| media. Depending on what business it is, a certain | | | | and meets his expectations. Business opportunities |
| medium may be more conducive for this purpose. | | | | are available to buy a business from an owner or |
| For example, certain businesses might advertise | | | | through a broker or when you buy a franchise. |
| their sale in the local newspaper or in a magazine | | | | |