Free PDF The Complete Guide to Buying a Business, by Fred Steingold J.D.
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The Complete Guide to Buying a Business, by Fred Steingold J.D.
Free PDF The Complete Guide to Buying a Business, by Fred Steingold J.D.
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The clear-cut information and forms you need to buy a business!
If you're ready to acquire a business, make sure you protect your interests and get the best deal possible with The Complete Guide to Buying a Business. It shows you how to:
The Complete Guide to Buying a Business provides more than two dozen crucial legal documents, including:
The 3rd edition of The Complete Guide to Buying a Business is completely updated to reflect the latest laws and tax numbers. Every document is accompanied by thorough, plain-English instructions.
- Sales Rank: #695830 in Books
- Published on: 2011-09-07
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 2
- Dimensions: 9.00" h x 1.25" w x 7.00" l, 1.57 pounds
- Binding: Paperback
- 448 pages
Review
“For an overview of the purchase process, see The Complete Guide to Buying a Business.” San Francisco Chronicle
“Nolo is always there in a jam as the nation’s premier publisher of do-it-yourself legal books.” Newsweek
From the Back Cover
Everything you need to buy a business and avoid costly mistakes.
About the Author
Attorney Fred S. Steingold practices law in Ann Arbor, Michigan. An expert on small business law, he represents and advises many small businesses. He is the author of Legal Guide for Starting & Running a Small Business and The Employer's Legal Handbook. His monthly column, "The Legal Advisor," is carried by trade publications across the country.
Most helpful customer reviews
71 of 72 people found the following review helpful.
Good Solid Guide to Work From
By Great Sage Inc.
If you are really thinking about buying a business go ahead and order this book then continue reading my following thoughts. Now 40 I have had my own businesses since I started mowing yards at 14. I have formed and run over six businesses. I currently have a Texas subchapter C corporation, two Florida corporations, am corporate secretary for a Texas 401c3 non-profit and now I just bought a Florida LLC. This LLC is the first business I have ever bought and I was spooky like it was my first time to the show someone where I kept my first piggy bank. I generally buy assets of a business but this one had a permit in it which could not be taken out of the LLC. This difference is explained very well in the book. This book is an excellent way to get you into the thought process and guide you through the steps of buying a business before you make the mistakes and look back. Naturally you are still going to want to have a CPA, attorney, etc. I personally would not go into business without both a SCORE mentor and a local small business development center or SBA counselor!!! Do this before you spend any money on an attorney, CPA, or even a cup of coffee to discuss with a seller your buying a business since they are no-charge, not conflicted, and very resourceful. But this book should still be mandatory reading for anyone interested in buying a business even with all the above. I have several other books by NOLO and find them to be very concise and useful so look at those too. The contracts are good but one must remember a contract is something promulgated between unique parties and hence the contract should be as unique as the parties entering into it. Use the contracts in this book as a guide for your thoughts and a way to outline how things are going to be done but edit them liberally and include your every thought and concern because their, my, or another's contract is not going to fit YOU. I wish you success and prosperity.
15 of 16 people found the following review helpful.
Beginning guide to buying a business
By N. Wallach
Do you want to own your own company? Be your own boss? Be the only one that makes decisions and live by them? Maybe even make lots of money? A lot of Americans have always wanted this and consequently there are millions of business owners out there in the country. Generally, there are two ways of doing this: You can start your company from scratch and build it up from the ground up; or, you can purchase an existing company and take over its operations. While this second approach is maybe more likely to lead to some success for you as the business you are buying already has a history, it also involves more work on your part as you need to find the right business, negotiate the right price for it, and consumate the purchase process itself. To help you in this endeavor, Nolo Press is publishing the book that is the subject of this review.
The title of the book is: "The Complete Guide to Buying a Business", but in reality it is more of an introduction to the process and the decisions that need to be made during the process than a really complete guide. That is the reason why I am giving this book a four star rating. The book covers some basic definitions and the general process of purchasing a business, but it is sprinkled with many warning statements about how your experience is likely to be different due to the unique situation that you are involved in. This uniqueness affects everything from tax treatments, to the kinds of business, to the process and forms that have to be filled out etc. The book should probably be named something like "The introductory Guide to Buying a Business" - but maybe that would sell fewer copies, and would certainly not fit within the series that Nolo publishes.
Given its limitations, this is still a nice book to peruse before launching yourself into the world of business purchases. The book gives you a good understanding of the basic processes, some of the things that you should be aware of as a prospective buyer, and some guidance as to what to look for in terms of positive or negative indicators that this business may not be quite as nice as you might think on first blush. One of the distinction repeatedly made in the book is that you should prefer to buy the assets of a business rather than the business entity itself. The book does a fairly decent job of explaining the differences between these and states what your preference as a buyer should be, and then it tells you that the seller will prefer the reverse. Unfortunately there is no guidance provided on how to successfully bridge this gap - and that is a problem.
Another problem area is that the book was written by an attorney. This is probably why the majority of the book is consumed with the right forms and templates for the various legal agreements that may be required, or should be put together. The book is very thin, though, on some relatively critical financial and accounting areas that should be just as carefully thought through and evaluated. For instance, in the discussion on how to value a business, the small chapter mentions a few common techniques, but then only brushes over how to evaluate an income statement or a Profit & Loss statement. It mentions a cash flow analysis in passing. In no case does it explain why these are truly important, nor how to analyze these key financial documents.
So, should you read this book if you are considering a business purchase? Absolutely - if you've never been involved in the business world before and are looking for introductory guidance. This book serves a useful purpose in developing your initial understanding of what it will take to buy a business, but please be aware that it is not a comprehensive guide, regardless of its title
10 of 13 people found the following review helpful.
A good road map...
By Randy Young
I found the book to be a nice reference to buying a business. Several key chapters provide some good thought provoking questions to consider in any endeavor to start a business. I had checked this out in the library and found myself wanting to write in the margins. A really good first step in identifying the hows and whats of buying a business.
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