Table of Contents - The BizBuy Kit

Authors’ disclaimer and your legal rights
About the authors
Introduction
How to use this manual

Chapter 1
Do you have what it takes?
How to buy the right business for you
Questions to consider before you quit your job
Personal fitness assessment – now thyself
Asset and liabilities
Business buyer’s apprenticeship
Why do people buy their own business?
What types of people buy a business
Owner-operator
Investors
Corporate buyers
Some common reasons for buying a business
What does a small business owner do?
What do you want from owning your own business?
How to determine the right business for you
Match your skills to the business
Pursue your passion
How well do you cope with financial commitment?
Financial outcomes
A business should suit your personality
Tips to consider when looking for a business
Buying an established business
Benefits of buying an established business
Disadvantages of established businesses
Buying a franchise?
Positives of buying a franchise
Training
Established systems and procedures
Brand name
Proven track record
Lending availability
Negatives of a franchise business
Business renovation
Buying out your business partner
Buying a business with a business partner

Chapter 2
How to find a good business
Where to find a good business
Newspaper classifieds
Business brokers
Newsletters
Word of mouth
Magazines and periodicals
Internet
Buying a business that is not for sale
Researching the business
Building a rapport
Buyer’s resume
Moving the deal quickly
Dealing with unrealistic vendors
Questions to ask the vendor personally

Chapter 3
How much is the business worth?
Valuing a business
The key drivers of business value
Business risk factors
The different methods of valuing a business
Valuation techniques
Some common business valuation mistakes
Example – sample small business valuation of a sole trader and corporation
Using the small business appraisal software
Business appraisal
Business appraisal form

Chapter 4
Business fitness assessment
Assessing the fitness of a business
Assessing the business fitness results
What you need to check when buying a business
Financials
Risk
Customer base
Middle level management and succession planning
Pre sale checklist for the business
Recasting - finding the true profit
Pre-inspection checklist
Leasehold or freehold
Common type of businesses sold.
Debtors and creditors
Buying a company verses a business
What is a company
What is a business
Business names
Employees
Telling employees about the sale
Black money
What advisors do you need
Accountant
Lawyer
What about tax?
Confidentiality agreement
Business planning

Chapter 5
Negotiating the sale
Ask the most important question
Common reasons why people sell
Make an offer
Letter of intent
How long will it take?
Paying a deposit
Do your due diligence
Due diligence material
First stage check list
Second stage check list
Questions before you negotiate
Negotiating the asking price
What is your negotiating strategy?
When to negotiate
Play devil’s advocate
When to shut up
Dealing with unrealistic vendors
What motivates the vendor
Structure the deal carefully
Don’t leave it to the lawyers
Evaluate and learn
Stay composed and detached
Why a sale slows
Some useful things they teach in sales school
Negotiating with different personality types
How to communicate with sellers
Closing the deal
Build rapport by mirroring
Managing argumentative people using reflection
Watch vendor’s body language
When to get the lawyers involved
Financing the deal
Vendor finance
Buyer’s and seller’s remorse
Buyer’s remorse
Seller’s remorse
Example of buyer’s remorse
Dealing with remorse
Example of seller’s remorse
After settlement
Completing handover
Operations manual
Create a simple operations manual
Is the business eco-sustainable?
Background
Increase your business eco sustainability
Appendix 1 – small business appraisal
Appendix 2 – personal fitness assessment
Appendix 3 – business fitness assessment checklist
Appendix 4 –calculate the business risk factors appendix

5 – glossary business terms

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ONCE YOU OWN THE BIZBUY KIT
YOU WILL UNDERSTAND THE PROCESS BETTER THAN A BUSINESS BROKER