B. The "Thirteen Steps" to acquiring a business

B. Beginning the search-who can help?

2. Choosing the method that is best for your situation

3. Some different methods of valuing a business

VI. The rewards of working for yourself

The decision to purchase a business of your own is not an easy task. There are many things to consider

Another area that must be calculated is goodwill. "Goodwill is not an operating cost and cannot be depreciated. It does not provide you with tax relief..."(Smorenburg, 114) Since there is no record of the worth of goodwill, it can be fairly difficult to determine an accurate buying price. Usually the seller will set the price based on their knowledge of the company. The set price, however, should be reasonable. Negotiations can be made to produce an agreeable price.

6. Negotiate a price and terms based on a realistic valuation.

10. Arrange for the final updated due diligence investigation.

Running your own business can be very rewarding. You don't have anyone to answer to besides the government. You are in complete control. Along with this the ability to write off certain expenses is enough of a reward in itself. The effort you put forth is completely up to you. The life and death of the business is in your hands.

Plan. This document lists every step and detail leading to the closing of the deal. Starting with the industry survey, it lists the start date, the finish date, and the cost of each of these processes. Following the survey is the target search, then on to the due diligence investigations. The importance of this plan revolves around the organization of a solid purchase. With this, you are able to enact the purchase at the right moment for you, this time being a buyer's market. If you need to wait out the bear market, you can do it much easier with everything laid out in front of you. Hence, the Acquisition Plan does the job.

Some common words found in the essay are:
Excess Earnings, IV Finding, Loan Program, Acquisition Plan, Albert Einstein, Street Journal, Outline Deciding, Buy/Sell Agreement, Flow Method, III Negotiating, letter intent, audit review, acquisition plan, cash flow, purchase price, due diligence, excess earnings method, economic factors, purchasing business, earnings method, excess earnings, due diligence investigation, negotiating purchase price, net asset value, leasing companies local,
Approximate Word count = 2805
Approximate Pages = 11 (250 words per page double spaced)