Amazon is buying Whole Foods for $13, buying a business.#Buying #a #business

Amazon is buying Whole Foods for $13.7 billion

Buying a business

Amazon is making a big bet on physical stores and the business of food.

The online retail giant announced Friday that is buying organic grocery chain Whole Foods ( WFM ) for $13.7 billion in cash. The deal values Whole Foods at $42 a share, 27% higher than where the stock was trading Thursday.

Amazon ( AMZN , Tech30) said Whole Foods stores will continue operating under that name as a separate unit of the company. Whole Foods CEO John Mackey will stay on to lead Whole Foods, which will keep its headquarters in Austin, Texas.

The deal shows Amazon’s interest in moving into the business of operating traditional brick-and-mortar stores, even as many retailers that have been crippled by Amazon’s growth have announced a series of store closings.

It also shows Amazon’s growing interest in groceries. The company has its own delivery service, AmazonFresh, and is experimenting with a “click and collect” model, letting customers buy groceries online, then pick them up in person.

The supermarket business, like many other parts of retail, has been hit hard by increased competition from Amazon itself, as well as Walmart ( WMT ) .

Grocery giant Kroger ( KR ) said Thursday that its profits for the year would be lower than Wall Street expected, sending its stock plunging nearly 20%.

Then Kroger’s stock plummeted 13% further on Friday after the Amazon-Whole Foods detail was announced.

Shares of other retailers with a big presence in groceries, such as Target ( TGT ) , Costco ( COST ) , SuperValu ( SVU ) and Sprouts ( SFM ) , plunged as well.

And Walmart was down 5%, despite announcing another online commerce deal of its own Friday. It bought men’s apparel company Bonobos.

But Amazon’s stock rose 3% on the news. Investors don’t seem too concerned by how much the company is spending. A warning of a possible credit downgrade by ratings agency S P Global Ratings didn’t hurt Amazon either.

S P said that Amazon may need to take on more debt as a result of the acquisition. But Amazon finished the first quarter with $21.5 billion in cash and securities on its balance sheet — and only $7.7 billion in long-term debt.

Amazon’s deal for Whole Foods also further demonstrates the financial might of the Jeff Bezos-led company, whose market value is greater than that of the 12 largest traditional general retailers combined.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Bezos.

Whole Foods, founded in 1978, is widely credited with helping to make organic food go mainstream. The company now has about 87,000 employees and more than 460 stores — mostly in the U.S. But Whole Foods has also expanded to Canada and the U.K.

The company has been moving aggressively in big cities, targeting millennial shoppers with a store format called 365 by Whole Foods Market that, like rival Trader Joe’s, has lower prices than the ones found at core Whole Foods stores.

High prices, of course, have been a problem for Whole Foods. The company is often derisively referred to as Whole Paycheck since the company charges a pretty penny for spelt and quinoa.

The company was accused of overcharging customers by regulators in New York City in 2015 and that had a huge negative impact on Whole Foods. Sales plunged for several quarters.

And the company became the butt of jokes by late-night comedians. HBO’s John Oliver did a savage skit about the company’s high prices. (HBO, like CNNMoney, is owned by Time Warner.)

Oliver ran a mock commercial showing, among other things, a block of ice with an avocado balanced on top for $25.99, a pomegranate that listened to NPR for $64.99, and tilapia wearing yoga pants for $84.99.

Mackey eventually wound up apologizing to customers. But the damage was done.

Sales growth at Whole Foods has slowed and profits have yet to return to levels before the price scandal. That may be one reason why Whole Foods was willing to sell to Amazon.

It will be interesting to see if Amazon — which has a reputation for keeping prices low — will turn Whole Foods into more of a bargain retailer as well.

It’s also worth noting that Whole Foods stock did not move much higher than $42 on Friday — the price that Amazon agreed to pay. That could be a sign that Wall Street does not expect a bidding war for the company that would push the sale price higher.

So it looks like Bezos will inherit the bad PR baggage that comes with Whole Foods. I wonder if it’s too soon for people to ask Alexa where they can find stalks of asparagus in a bottle of water for $6.





Amazon is buying Whole Foods for $13, buying a business.#Buying #a #business

Amazon is buying Whole Foods for $13.7 billion

Buying a business

Amazon is making a big bet on physical stores and the business of food.

The online retail giant announced Friday that is buying organic grocery chain Whole Foods ( WFM ) for $13.7 billion in cash. The deal values Whole Foods at $42 a share, 27% higher than where the stock was trading Thursday.

Amazon ( AMZN , Tech30) said Whole Foods stores will continue operating under that name as a separate unit of the company. Whole Foods CEO John Mackey will stay on to lead Whole Foods, which will keep its headquarters in Austin, Texas.

The deal shows Amazon’s interest in moving into the business of operating traditional brick-and-mortar stores, even as many retailers that have been crippled by Amazon’s growth have announced a series of store closings.

It also shows Amazon’s growing interest in groceries. The company has its own delivery service, AmazonFresh, and is experimenting with a “click and collect” model, letting customers buy groceries online, then pick them up in person.

The supermarket business, like many other parts of retail, has been hit hard by increased competition from Amazon itself, as well as Walmart ( WMT ) .

Grocery giant Kroger ( KR ) said Thursday that its profits for the year would be lower than Wall Street expected, sending its stock plunging nearly 20%.

Then Kroger’s stock plummeted 13% further on Friday after the Amazon-Whole Foods detail was announced.

Shares of other retailers with a big presence in groceries, such as Target ( TGT ) , Costco ( COST ) , SuperValu ( SVU ) and Sprouts ( SFM ) , plunged as well.

And Walmart was down 5%, despite announcing another online commerce deal of its own Friday. It bought men’s apparel company Bonobos.

But Amazon’s stock rose 3% on the news. Investors don’t seem too concerned by how much the company is spending. A warning of a possible credit downgrade by ratings agency S P Global Ratings didn’t hurt Amazon either.

S P said that Amazon may need to take on more debt as a result of the acquisition. But Amazon finished the first quarter with $21.5 billion in cash and securities on its balance sheet — and only $7.7 billion in long-term debt.

Amazon’s deal for Whole Foods also further demonstrates the financial might of the Jeff Bezos-led company, whose market value is greater than that of the 12 largest traditional general retailers combined.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Bezos.

Whole Foods, founded in 1978, is widely credited with helping to make organic food go mainstream. The company now has about 87,000 employees and more than 460 stores — mostly in the U.S. But Whole Foods has also expanded to Canada and the U.K.

The company has been moving aggressively in big cities, targeting millennial shoppers with a store format called 365 by Whole Foods Market that, like rival Trader Joe’s, has lower prices than the ones found at core Whole Foods stores.

High prices, of course, have been a problem for Whole Foods. The company is often derisively referred to as Whole Paycheck since the company charges a pretty penny for spelt and quinoa.

The company was accused of overcharging customers by regulators in New York City in 2015 and that had a huge negative impact on Whole Foods. Sales plunged for several quarters.

And the company became the butt of jokes by late-night comedians. HBO’s John Oliver did a savage skit about the company’s high prices. (HBO, like CNNMoney, is owned by Time Warner.)

Oliver ran a mock commercial showing, among other things, a block of ice with an avocado balanced on top for $25.99, a pomegranate that listened to NPR for $64.99, and tilapia wearing yoga pants for $84.99.

Mackey eventually wound up apologizing to customers. But the damage was done.

Sales growth at Whole Foods has slowed and profits have yet to return to levels before the price scandal. That may be one reason why Whole Foods was willing to sell to Amazon.

It will be interesting to see if Amazon — which has a reputation for keeping prices low — will turn Whole Foods into more of a bargain retailer as well.

It’s also worth noting that Whole Foods stock did not move much higher than $42 on Friday — the price that Amazon agreed to pay. That could be a sign that Wall Street does not expect a bidding war for the company that would push the sale price higher.

So it looks like Bezos will inherit the bad PR baggage that comes with Whole Foods. I wonder if it’s too soon for people to ask Alexa where they can find stalks of asparagus in a bottle of water for $6.





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  • Buying Local: How It Boosts the Economy, buying a business.#Buying #a #business

    Buying Local: How It Boosts the Economy

    “Buy Local” you see the decal in the store window, the sign at the farmer’s market, the bright, cheerful logos for Local First Arizona, Think Boise First, Our Milwaukee, and homegrown versions across the states. The apparent message is “let’s-support-local-business”, a kind of community boosterism. But buying close to home may be more than a feel-good, it’s-worth-paying-more-for-local matter. A number of researchers and organizations are taking a closer look at how money flows, and what they’re finding shows the profound economic impact of keeping money in town and how the fate of many communities around the nation and the world increasingly depend on it.

    At the most basic level, when you buy local more money stays in the community. The New Economics Foundation, an independent economic think tank based in London, compared what happens when people buy produce at a supermarket vs. a local farmer’s market or community supported agriculture (CSA) program and found that twice the money stayed in the community when folks bought locally. “That means those purchases are twice as efficient in terms of keeping the local economy alive,” says author and NEF researcher David Boyle. (See the top 10 food trends of 2008.)

    Indeed, says Boyle, many local economies are languishing not because too little cash comes in, but as a result of what happens to that money. “Money is like blood. It needs to keep moving around to keep the economy going,” he says, noting that when money is spent elsewhere at big supermarkets, non-locally owned utilities and other services such as on-line retailers “it flows out, like a wound.” By shopping at the corner store instead of the big box, consumers keep their communities from becoming what the NEF calls “ghost towns” (areas devoid of neighborhood shops and services) or “clone towns”, where Main Street now looks like every other Main Street with the same fast-food and retail chains.

    According to Susan Witt, Executive Director of the E.F. Schumacher Society, “buy local” campaigns serve another function: alerting a community about gaps in the local market. For instance, if consumers keep turning to on-line or big-box stores for a particular product say, socks this signals an opportunity for someone local to make and sell socks. This is the way product innovations get made, says Witt. “The local producer adds creative elements that make either the product or materials used more appropriate to the place.” For example, an area where sheep are raised might make lambs wool socks and other goods.

    The point is not that communities should suddenly seek to be self-sufficient in all ways, but rather, says Boyle, “to shift the balance. Can you produce more locally? Of course you can if the raw materials are there, and the raw materials are often human beings.”

    And what about that higher cost of local goods? After all, big-box stores got to be big because their prices are low. Susan Witt says that the difference falls away once you consider the increase in local employment as well as the relationships that grow when people buy from people they know. (Plus, one could argue, lower transportation, and therefore environmental, costs, and you know what you’re getting which as we’ve recently seen with suspected contamination in toys and other products from China, can be a concern.)

    There’s also the matter of local/regional resilience. Says Witt: “While now we’re largely a service-providing nation, we’re still just a generation away from being a nation of producers. The question is: what economic framework will help us reclaim those skills and that potential.” Say, for example, the exchange rates change or the price of oil rises (and it has started to creep up, if not at last summer’s pace) so that foreign-made goods are no longer cheap to import. We could find ourselves doubly stuck because domestic manufacturing is no longer set up to make all these products. While no community functions in isolation, supporting local trade helps “recreate the diversity of small businesses that are flexible and can adjust” to changing needs and market conditions, says Witt. (Read “How to Know When the Economy Is Turning Up.”)

    Another argument for buying local is that it enhances the “velocity” of money, or circulation speed, in the area. The idea is that if currency circulates more quickly, the money passes through more hands and more people have had the benefit of the money and what it has purchased for them. “If you’re buying local and not at a chain or branch store, chances are that store is not making a huge profit,” says David Morris, Vice President of the Institute for Local Self-Reliance, a nonprofit economic research and development organization based in Minneapolis and Washington, D.C. “That means more goes into input costs supplies and upkeep, printing, advertising, paying employees which puts that money right back in the community.”

    One way to really make sure money stays in the community is through creating a local currency. Christian Gelleri, a former Waldorf high school teacher in the Lake Chiem area in Germany, has launched a regional currency, the Chiemgauer, equivalent in value to the Euro. According to Gelleri, the Chiemgauer, accepted at more than 600 businesses in the region and with about $3,000,000 Euros worth in circulation, has three times the velocity of the Euro, circling through the economy an average of 18 times a year as opposed to 6. One reason for the fast turnaround is that the Chiemgauer is designed to encourage spending: there is a 2% demurrage fee for holding onto the bills beyond three months.

    As an economic principle, velocity has been considered a constant. According to Gelleri, it was stable in the 1950s, ’60s, and ’70s but starting in the ’80s velocity has decreased as more money has been diverted to the financial sector. This scenario may benefit financial centers, but money tends to drain away from other places. Gelleri says that both the Euro and the U.S. dollar have slowed way down. “In the last several months velocity has declined sharply because there’s less GDP and more money,” he says. “The money doesn’t flow. More money is being printed, but it’s not going into circulation.”

    As the nation limps through the recession, many towns and cities are hurting. “Buy-local” campaigns can help local economies withstand the downturn. Says Boyle: “For communities, this is a hopeful message in a recession because it’s not about how much money you’ve got, but how much you can keep circulating without letting it leak out.”





    Amazon to Buy Whole Foods for $13, buying a business.#Buying #a #business

    Amazon to Buy Whole Foods for $13.4 Billion

    Buying a business

    Amazon agreed to buy the upscale grocery chain Whole Foods for $13.4 billion, in a deal that will instantly transform the company that pioneered online shopping into a merchant with physical outposts in hundreds of neighborhoods across the country.

    The acquisition, announced Friday, is a reflection of both the sheer magnitude of the grocery business — about $800 billion in annual spending in the United States — and a desire to turn Amazon into a more frequent shopping habit by becoming a bigger player in food and beverages. After almost a decade selling groceries online, Amazon has failed to make a major dent on its own as consumers have shown a stubborn urge to buy items like fruits, vegetables and meat in person.

    Buying Whole Foods also represents a major escalation in the company’s long-running battle with Walmart, the largest grocery retailer in the United States, which has been struggling to play catch-up in internet shopping. On Friday, Walmart announced a $310 million deal to acquire the internet apparel retailer Bonobos, and last year it agreed to pay $3.3 billion for Jet.com and put Jet’s chief executive, Marc Lore, in charge of Walmart’s overall e-commerce business.

    “Make no mistake, Walmart under no circumstances can lose the grocery wars to Amazon,” said Brittain Ladd, a strategy and supply chain consultant who formerly worked with Amazon on its grocery business. “If Walmart loses the grocery battle to Amazon, they have no chance of ever dethroning Amazon as the largest e-commerce player in the world.”

    The idea of Amazon, a company founded 23 years ago on the premise of shopping from the comfort of a computer screen, moving forcefully into the crowded field of brick-and-mortar retail, with its limitations on selection and lack of customer reviews, once seemed ludicrous. But in the past several years, the company has dabbled with stores, opening or planning more than a dozen bookstores around the country.

    Amazon Is Trying to Do (and Sell) Everything

    The company’s $13.4 billion deal for Whole Foods is the latest signal of Amazon’s ambitions to have a hold on nearly every facet our lives — like the computer servers that power our favorite websites and the food we eat.

    Buying a business

    In Seattle, it recently opened two grocery drive-through stores where customers can pick up online orders, along with a convenience store called Amazon Go that uses sensors and software to let shoppers sail through the exits without visiting a cashier.

    The addition of Whole Foods takes Amazon’s physical presence to a new level. The grocery chain includes more than 460 stores in the United States, Canada and Britain with sales of $16 billion in the last fiscal year. Mikey Vu, a partner at the consultancy Bain Company who is focused on retail, said, “They’re going to be within an hour or 30 minutes of as many people as possible.”

    Founded in 1978 in Austin, Tex., Whole Foods is best known for its organic foods, building its brand on healthy eating and fresh, local produce and meats. It has also long been caricatured as “Whole Paycheck” for the high prices it charges for groceries. That conflicts with a core tenet of Amazon, which has made low prices part of its mission as a retailer.

    Analysts speculated that Amazon could use its $99-a-year Prime membership service, which gives customers free, two-day shipping and other benefits, to offer Whole Foods customers a better price on groceries, as it does for books in its bookstores. The stores could also serve as an advertisement to get more customers to sign up for Prime; in September the financial firm Cowen Company estimated that Prime had 49 million subscribers in the United States, representing about 44 percent of households.

    Amazon has been on a multiyear offensive to open warehouses closer to customers so it can deliver orders in as little as two hours, and Whole Foods stores will further narrow Amazon’s physical proximity to its shoppers. The stores could become locations for returning online orders of all kinds. Amazon could also use them to cut delivery times for online orders.

    The $13.4 billion deal, which does not include net debt, immediately raised questions about whether Amazon’s experiments with automation, like the cashier-less checkout technology it is testing in its Amazon Go store, could eventually lead to job losses at Whole Foods stores.

    “Amazon’s brutal vision for retail is one where automation replaces good jobs,” Marc Perrone, president of the United Food and Commercial Workers International Union, said in a statement. “That is the reality today at Amazon, and it will no doubt become the reality at Whole Foods.”

    Drew Herdener, a spokesman for Amazon, said it has no plans to use the Amazon Go technology to automate the jobs of cashiers at Whole Foods and no job reductions are planned as a result of the deal. Whole Foods workers are not unionized.

    The move to buy Whole Foods is a further sign of the outsize ambitions of Jeff Bezos, Amazon’s chief executive and founder, who came under fire from Donald J. Trump during the presidential campaign last year, when Mr. Trump said Mr. Bezos had a “huge antitrust problem because he’s controlling so much.”





    Buying Local: How It Boosts the Economy, buying a business.#Buying #a #business

    Buying Local: How It Boosts the Economy

    “Buy Local” you see the decal in the store window, the sign at the farmer’s market, the bright, cheerful logos for Local First Arizona, Think Boise First, Our Milwaukee, and homegrown versions across the states. The apparent message is “let’s-support-local-business”, a kind of community boosterism. But buying close to home may be more than a feel-good, it’s-worth-paying-more-for-local matter. A number of researchers and organizations are taking a closer look at how money flows, and what they’re finding shows the profound economic impact of keeping money in town and how the fate of many communities around the nation and the world increasingly depend on it.

    At the most basic level, when you buy local more money stays in the community. The New Economics Foundation, an independent economic think tank based in London, compared what happens when people buy produce at a supermarket vs. a local farmer’s market or community supported agriculture (CSA) program and found that twice the money stayed in the community when folks bought locally. “That means those purchases are twice as efficient in terms of keeping the local economy alive,” says author and NEF researcher David Boyle. (See the top 10 food trends of 2008.)

    Indeed, says Boyle, many local economies are languishing not because too little cash comes in, but as a result of what happens to that money. “Money is like blood. It needs to keep moving around to keep the economy going,” he says, noting that when money is spent elsewhere at big supermarkets, non-locally owned utilities and other services such as on-line retailers “it flows out, like a wound.” By shopping at the corner store instead of the big box, consumers keep their communities from becoming what the NEF calls “ghost towns” (areas devoid of neighborhood shops and services) or “clone towns”, where Main Street now looks like every other Main Street with the same fast-food and retail chains.

    According to Susan Witt, Executive Director of the E.F. Schumacher Society, “buy local” campaigns serve another function: alerting a community about gaps in the local market. For instance, if consumers keep turning to on-line or big-box stores for a particular product say, socks this signals an opportunity for someone local to make and sell socks. This is the way product innovations get made, says Witt. “The local producer adds creative elements that make either the product or materials used more appropriate to the place.” For example, an area where sheep are raised might make lambs wool socks and other goods.

    The point is not that communities should suddenly seek to be self-sufficient in all ways, but rather, says Boyle, “to shift the balance. Can you produce more locally? Of course you can if the raw materials are there, and the raw materials are often human beings.”

    And what about that higher cost of local goods? After all, big-box stores got to be big because their prices are low. Susan Witt says that the difference falls away once you consider the increase in local employment as well as the relationships that grow when people buy from people they know. (Plus, one could argue, lower transportation, and therefore environmental, costs, and you know what you’re getting which as we’ve recently seen with suspected contamination in toys and other products from China, can be a concern.)

    There’s also the matter of local/regional resilience. Says Witt: “While now we’re largely a service-providing nation, we’re still just a generation away from being a nation of producers. The question is: what economic framework will help us reclaim those skills and that potential.” Say, for example, the exchange rates change or the price of oil rises (and it has started to creep up, if not at last summer’s pace) so that foreign-made goods are no longer cheap to import. We could find ourselves doubly stuck because domestic manufacturing is no longer set up to make all these products. While no community functions in isolation, supporting local trade helps “recreate the diversity of small businesses that are flexible and can adjust” to changing needs and market conditions, says Witt. (Read “How to Know When the Economy Is Turning Up.”)

    Another argument for buying local is that it enhances the “velocity” of money, or circulation speed, in the area. The idea is that if currency circulates more quickly, the money passes through more hands and more people have had the benefit of the money and what it has purchased for them. “If you’re buying local and not at a chain or branch store, chances are that store is not making a huge profit,” says David Morris, Vice President of the Institute for Local Self-Reliance, a nonprofit economic research and development organization based in Minneapolis and Washington, D.C. “That means more goes into input costs supplies and upkeep, printing, advertising, paying employees which puts that money right back in the community.”

    One way to really make sure money stays in the community is through creating a local currency. Christian Gelleri, a former Waldorf high school teacher in the Lake Chiem area in Germany, has launched a regional currency, the Chiemgauer, equivalent in value to the Euro. According to Gelleri, the Chiemgauer, accepted at more than 600 businesses in the region and with about $3,000,000 Euros worth in circulation, has three times the velocity of the Euro, circling through the economy an average of 18 times a year as opposed to 6. One reason for the fast turnaround is that the Chiemgauer is designed to encourage spending: there is a 2% demurrage fee for holding onto the bills beyond three months.

    As an economic principle, velocity has been considered a constant. According to Gelleri, it was stable in the 1950s, ’60s, and ’70s but starting in the ’80s velocity has decreased as more money has been diverted to the financial sector. This scenario may benefit financial centers, but money tends to drain away from other places. Gelleri says that both the Euro and the U.S. dollar have slowed way down. “In the last several months velocity has declined sharply because there’s less GDP and more money,” he says. “The money doesn’t flow. More money is being printed, but it’s not going into circulation.”

    As the nation limps through the recession, many towns and cities are hurting. “Buy-local” campaigns can help local economies withstand the downturn. Says Boyle: “For communities, this is a hopeful message in a recession because it’s not about how much money you’ve got, but how much you can keep circulating without letting it leak out.”





    Buying a Business: What You Need to Know #busy

    #buying a business

    #

    Buying a Business: What You Need to Know

    For some people, buying an existing business is a better option than starting one from scratch. Why? Because someone else has done much of the legwork for you, such as establishing a customer base, hiring employees, and negotiating a lease. Still, you’ll need to do some thorough research to make sure that what you see is what you’ll get.

    What Type of Business Should You Buy?

    Look for a business that has some connection to types of work you’ve done in the past, classes you’ve taken, or perhaps skills you’ve developed through a hobby. It’s almost always a mistake to buy a business you know little about, no matter how good it looks. For one thing, your lack of knowledge about the industry might cause you to overpay. And if you do buy the business, you’ll have to struggle up a steep learning curve afterward.

    But do try to choose a business that you’re excited by. It’s easier to succeed in business when you enjoy the work you’re doing. To learn more, read Start the Right New Business for You.

    Finding a Business to Buy

    As you begin your hunt for the perfect company, consider starting close to home. For instance, if you’re currently employed by a small business you like, find out whether the present owner would consider selling. Or, ask business associates and friends for leads on similar businesses that may be on the market. Many of the best business opportunities surface by word of mouth — and are snapped up before their owners ever list them for sale.

    Other avenues to explore include newspaper or online ads, trade associations, real estate brokers, and business suppliers. Finally, there are business brokers — people who earn a commission from business owners who need help finding buyers. It’s fine to use a broker to help locate a business opportunity, but it’s foolish to rely on a broker — who doesn’t make a commission until a sale is made — for advice about the quality of a business or the fairness of its selling price.

    Research the Business’s History and Finances

    Before you seriously consider buying a particular business, find out as much as you can about it. Thoroughly review copies of the business’s certified financial records, including cash flow statements, balance sheets, accounts payable and receivable, employee files including benefits and any employee contracts, and major contracts and leases, as well as any past lawsuits and other relevant information.

    This review (lawyers call it “due diligence”) will not only help you understand how the company ticks, but will alert you to potential problems. For instance, if a major contract like a lease prohibits you from taking it over without the landlord or other party’s permission, you won’t want to finalize the deal without getting that permission.

    Don’t be shy about asking for information about the business, and if the seller refuses to supply it, or if you find any misinformation, this may be a sign that you should look elsewhere. For an extensive list of questions you’ll want answered before committing to a purchase, see The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo).

    Closing the Deal

    If you’ve thoroughly investigated a company and wish to go ahead with a purchase, there are a few more steps you’ll have to take. First, you and the owner will have to agree on a fair purchase price. A good way to do this is to hire an experienced appraiser. Next, you and the business owner will agree on which assets you’ll buy (such as a building and equipment) and the terms of payment. Most often, businesses are purchased on an installment plan, with a sizable down payment.

    After you have outlined the terms on which you and the seller agree, you’ll need to create a written sales agreement and possibly have a lawyer review it before you sign on the dotted line. One good resource is The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo), which contains a fill-in-the-blank sales agreement. Or if you’d prefer to hire a lawyer for help with this document-intensive process, Nolo’s Lawyer Directory will provide you with detailed personal profiles of lawyers in your area — all of whom have taken a pledge to treat their clients with respect.





    Buying a business – Canada Business Network #short #term #business #loans

    #buying a business

    #

    Buying a business

    Buying a business can take time, energy and a fair bit of research. It can be less risky and more affordable to purchase an existing business than to start one from scratch, but it is important that you do your homework to ensure that you buy the right business for you, and that you pay a fair price for it.

    On this page:

    Where to find a business to buy

    Businesses for sale are often advertised in print media and online, but sometimes business opportunities can be misleading. Make sure to do your due diligence before you take action. Try trade publications or commercial investment magazines, or talk to a broker who specializes in a specific industry. Networking at business events can help get the word out that you are looking to buy.

    Find buyers or find a business to buy based on algorithms allowing you to find the best match based on skills and goals.

    Looking to buy or sell an existing business in Ontario? Use this online marketplace to find available businesses that match your search criteria.

    What kind of business should I buy?

    If you buy an existing business, you have two choices: franchise, or traditional (independent) business. There are advantages and disadvantages to both.

    • Proven track record This is an established business with a proven concept; there is less risk and less initial capital required than with starting something brand new. Similarly, when it comes time to sell, you may have an easier time finding prospective buyers for a known entity.
    • Built-in customer base People know what to expect from your business because they know the brand, and trust the product or service.
    • Setup, support and training Having a parent company means having the infrastructure and processes in place, from equipment to uniforms to corporate advertising, rather than having to develop them on your own. Other franchisees can also be a source of support.
    • Set of rules and regulations to follow When you operate a franchise, you have less control over the operations than if you own an independent business; you also have to pay a percentage of your revenues to the parent company, which reduces overall earnings.
    • More control and responsibility You have the autonomy to set your own rules, but the success or failure of the business rests solely on your shoulders.
    • No fees or royalties You keep all of your earnings without sharing any of the profits.
    • More opportunity and risk You can sometimes find a business that may not be doing well but has potential. If you are willing to do the work, you may reap the rewards; you must be prepared if things don t turn out as planned.

    Evaluating a business

    Before deciding to buy a business, you should evaluate its condition and potential. Think about the following things:

    • What is the physical location of the business like? Is the office, warehouse, plant or retail space in good shape? What about any equipment or inventory?
    • If it s an online business, how well-designed is the website? Is it secure? Are there any metrics to study?
    • Does the business have a good reputation? You can check online for customer reviews.
    • How visible and easily accessible is the business? Is it located in an urban or rural area? You will have to consider expenses like increased shipping costs if you are farther away from your suppliers and customers.
    • Are the products or services generating revenue? Are sales increasing, decreasing or are they flat?
    • Does the business have a good working relationship with its suppliers and bank?

    If a business is doing poorly, examine what the potential causes are. It may be a case of poor management, or inadequate resources. If you think you can turn it around and make it profitable, you could stand to gain from your investment; on the flip side, you are taking a big risk if it doesn t work out.

    If a deal seems too good to be true, chances are, it probably is. Learn how to determine what type of business you should buy.

    Know your options when buying a business. Consider the pros and cons of each business type, situation and stage.

    If you need to know the value of your business, learn about the different approaches to business valuation.

    What is a fair price to pay for a business? Read this article to learn how to estimate the value of a business.

    Protect yourself when buying a business. This article outlines the steps you need to take before signing on the dotted line.

    Determining how much to pay for the business

    As a buyer, it all comes down to knowing what you can afford before negotiations start. You should be flexible in your negotiations, but also keep your budget and the value of the business in mind.

    What is the value of the business?

    • You will have to determine the value of assets such as the building, equipment and products.
    • Further factors to consider are the business financial statements, annual reports and intellectual property (for example, patents and trade-marks).
    • Other valuable assets to any business are its reputation, customer lists, and quality of personnel.

    Talk to clients who buy directly from the business. It is better to find out the reputation of a business before you sign on the dotted line. Banks are more receptive to a business that has a proven track record.

    Find out how to access funding for your business.

    Final considerations

    • Take your time and verify all of the information you are given before you commit yourself.
    • Buy a business in an industry you know well and with products or services you are comfortable selling.
    • Buy based on the return on investment and not only the price. You don t want to leave yourself short of funds for future expenses.
    • Investigate suppliers, clients and the reputation of the business before you buy.

    If you are buying a business and its inventory and assets, learn about some of the requirements, changing ownership and GST/HST considerations.

    Was this information useful?

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    Buying a Business: What You Need to Know #best #online #business

    #buying a business

    #

    Buying a Business: What You Need to Know

    For some people, buying an existing business is a better option than starting one from scratch. Why? Because someone else has done much of the legwork for you, such as establishing a customer base, hiring employees, and negotiating a lease. Still, you’ll need to do some thorough research to make sure that what you see is what you’ll get.

    What Type of Business Should You Buy?

    Look for a business that has some connection to types of work you’ve done in the past, classes you’ve taken, or perhaps skills you’ve developed through a hobby. It’s almost always a mistake to buy a business you know little about, no matter how good it looks. For one thing, your lack of knowledge about the industry might cause you to overpay. And if you do buy the business, you’ll have to struggle up a steep learning curve afterward.

    But do try to choose a business that you’re excited by. It’s easier to succeed in business when you enjoy the work you’re doing. To learn more, read Start the Right New Business for You.

    Finding a Business to Buy

    As you begin your hunt for the perfect company, consider starting close to home. For instance, if you’re currently employed by a small business you like, find out whether the present owner would consider selling. Or, ask business associates and friends for leads on similar businesses that may be on the market. Many of the best business opportunities surface by word of mouth — and are snapped up before their owners ever list them for sale.

    Other avenues to explore include newspaper or online ads, trade associations, real estate brokers, and business suppliers. Finally, there are business brokers — people who earn a commission from business owners who need help finding buyers. It’s fine to use a broker to help locate a business opportunity, but it’s foolish to rely on a broker — who doesn’t make a commission until a sale is made — for advice about the quality of a business or the fairness of its selling price.

    Research the Business’s History and Finances

    Before you seriously consider buying a particular business, find out as much as you can about it. Thoroughly review copies of the business’s certified financial records, including cash flow statements, balance sheets, accounts payable and receivable, employee files including benefits and any employee contracts, and major contracts and leases, as well as any past lawsuits and other relevant information.

    This review (lawyers call it “due diligence”) will not only help you understand how the company ticks, but will alert you to potential problems. For instance, if a major contract like a lease prohibits you from taking it over without the landlord or other party’s permission, you won’t want to finalize the deal without getting that permission.

    Don’t be shy about asking for information about the business, and if the seller refuses to supply it, or if you find any misinformation, this may be a sign that you should look elsewhere. For an extensive list of questions you’ll want answered before committing to a purchase, see The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo).

    Closing the Deal

    If you’ve thoroughly investigated a company and wish to go ahead with a purchase, there are a few more steps you’ll have to take. First, you and the owner will have to agree on a fair purchase price. A good way to do this is to hire an experienced appraiser. Next, you and the business owner will agree on which assets you’ll buy (such as a building and equipment) and the terms of payment. Most often, businesses are purchased on an installment plan, with a sizable down payment.

    After you have outlined the terms on which you and the seller agree, you’ll need to create a written sales agreement and possibly have a lawyer review it before you sign on the dotted line. One good resource is The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo), which contains a fill-in-the-blank sales agreement. Or if you’d prefer to hire a lawyer for help with this document-intensive process, Nolo’s Lawyer Directory will provide you with detailed personal profiles of lawyers in your area — all of whom have taken a pledge to treat their clients with respect.





    Buying an Internet Business – Why 2016 is the Year to Buy

    #internet business

    #

    Buying an Internet Business Why 2016 is the Year to Buy

    The start of a new year is always a natural time of year to make plans for the future. be it personally or professionally. It’s a good time to take stock of previous experience and think about what’s taking place in the world. Indeed, you don’t have to look too far for predictions posts at the moment, the internet is positively awash with musings about the year ahead with many exciting internet marketing trends predicted (mobile, the internet of things and as ever, more content marketing!)

    Strangely though there is not much in the way of thoughts on business buying in 2016,particularly for buying an internet business. so I’ve put some thoughts together on why 2016 is potentially a very timely year to buy.

    Buying an internet business – macro favors the opportunist

    There’s so much uncertainty in both the US and global economy at the moment that you can carve a pretty convincing argument either way for economic collapse or prosperity in 2016 (presumably that’s how Wall Street analysts keep in business come high or low…)

    I think though that when it comes to small business ownership there is strong cause for optimism this year. Consumer confidence has continued to climb through 2016 to the mid 90 s. Good news for consumer facing e-businesses.

    Investment levels always tell you something about the market’s sentiment toward both the economy and small business growth. Whilst you shouldn’t always follow the herd it’s important to note we operate in an economy based largely on consent, so if everyone else is investing it’s a good sign for personal acquisitions. US venture capital investment continue to grow year over year, and 2015 saw the largest amount of investment dollars.

    Lastly, borrowing is an essential component for acquisition and growth and it’s refreshing to see that whilst SBA lending softened a little in 2014 to $3.8bn (from $4.0bn in 2013), the lender is anticipating a huge boost in 2015 to $4.8bn. If you’re looking to debt finance an internet business acquisition, 2016 could well be the year to do it.

    A word of warning though, it can still be quite difficult to secure debt financing for online business acquisitions. SaaS businesses and recurring revenue models that have at least three years of history tend to be the most successful candidates for funding, though cash buyers will continue to have pole position in 2016. If you want to learn about alternative finance options you can read How to Buy a Website with Finance .

    Surging internet growth continues

    The nice thing about most internet trends is that they almost always face upwards which makes the old Chinese proverb of “the best time to plant a tree was 20 years ago, the second best time is now” true at the start of almost every year.

    E-commerce continues to be one of the biggest areas of internet growth and eMarketer expects the global E-commerce industry to increase another $263bn in 2015 to $1.763trn (yes trillion), all boding very well for site owners and potential business acquirers.

    Content sites will not miss out on a continued surge in internet usage as multi-device and particularly mobile usage make the web a major source of advertising dollars. Internet advertising revenues continue to rise with spending up across every single sector. from 5% YoY in entertainment to 20% YoY in retail. Digital advertising revenue is now worth more than $40bn in the US alone (as of 2014), second only to TV, and rising at 15% per annum (5x faster than any other medium).

    It’s not just the growth opportunities that are appearing in the internet investment landscape, the risk factors are somewhat fading too. Many online business acquirers are cautious of pending Google algorithm updates particularly when looking at websites with high search traffic (and they are wise to be). With the last 18 months seeing an unprecedented amount of algorithm changes. things have now started to calm and the industry is expecting a smoother runway in 2016.

    That’s not to say there won’t be movement but there is much less concern over 20% single-day traffic falls as we saw with the Penguin and Panda rollouts in 2013 and 2014. The good news for site buyers is that investors now have the pick of sites that are still standing after the updates and they also have some runway ahead before Google consider another major algorithm update.

    Mobile is an explosive opportunity

    A major part of the trends above is the continued penetration of smartphones across the US, Western Europe and Asia as well as the proliferation of multi-device. Multi-device ownership is increasingly commonplace in developed markets with 1 in 4 smartphone owners in the US and EU5 also owning a tablet.

    Almost every internet marketing predictions post is citing mobile’s importance this year and its clear from listings at FEI that site owners who have mobile-optimised their sites (at the least) or built new service or content offerings around mobile, are very well positioned for selling. With Google putting greater emphasis on the mobile user experience, potentially even incorporating “mobile-friendliness” into its search ranking algorithm, mobile-friendly is now essential.

    Digi-Capital predict 61.3% CAGR of revenue growth in mobile app revenue (ex-gaming) to 2017 which is a staggering growth rate and a huge growth opportunity for buyers of e-businesses and apps in 2016 and beyond. Advertisers worldwide are recognizing the increasing penetration of mobile and its impact on consumers, and in response, plan to spend more than $64bn on mobile ads in 2015. 60% higher than 2014.

    Favorable industry trends

    Thomas and I wrote about industry trends at the end of 2015 and we think they are aligning positively for buyers. Whilst there’s undoubtedly more buyers in the industry than ever before, the market is formalizing and this can only be a good thing for raising industry standards amongst brokers, sellers and other industry participants alike.

    An exciting new development has been the launch of Escrow’s new domain name holding service in 2014 which has dramatically increased the scope for creatively financed deals in 2016. With domain(s) held in Escrow during the deferred consideration period there is much less fear about payment default, which warms sellers to the idea of earn outs, holdbacks and other financing methods. All of this is great news for buyers looking to stretch out their funds or structures deals for lower risk.

    Speaking of formalisation, the website buying industry definitely embraced content marketing in the past few years and we have seen a marked increase in content posting by brokers, marketplaces and industry commentators alike. Centurica now publish an annual website buying report and its co-founder Justin Gilchrist also published an in-depth primer on business buying.

    FEI published a free Guide to Buying an Online Business to help educate buyers on how to run through the process successfully and to raise awareness about the asset class. In short, there’s never been more quality information available about internet business buying which is great news for new and seasoned buyers alike.

    Buying an online business?

    Download our free 83-page guide to buying and learn all you need to know

    If not now, when?

    So there are a lot of good reasons why 2016 presents a unique opportunity to buy an internet business. But the truth is, every year gives advantages over the previous year. So, if you’re waiting for the perfect time, then you’ve perhaps already waited too long. The right time to buy a business is now! Don’t wait for any arbitrary date like January 1st.

    Instead, commit to your plan and get started right now. Yes, 2016 will be a great time for buying a business but so is today .

    David Newell

    David is the Brokerage Director at FE International. Starting out as an investment banker, he moved online to use his transaction experience for website brokerage. At FE International, he spends his time speaking with buyers, executing deals and working on raising industry standards to encourage more investments. In 2014 he closed more than $6m in sales and wrote a book on buying internet businesses for investors new to the space.





    Buying a business: Starting a business advice and business ideas #free #business

    #buying a business

    #

    Buying a business

    Buying an existing business can be a successful route to becoming your own boss. Take a look at the steps involved in finding, valuing and buying a small business to decide if buying a business is the right direction for you.

    How to start a business: What you need to know

  • Buying a business: Cafes and coffee shops

  • Buying a business: Tea rooms

    Key topics

    Startups answers the key questions you should ask before starting your own business

    David Soskin tells us about how he took over Cheapflights.co.uk

    Why buying a failing business may leave you in difficulties too

    Latest on Startups

    Useful business start up tools

    Forum post of the week

    Want to run a more profitable business?

    More from Startups





  • NH Real Estate Appraiser – Jack Lavoie, SRA – Accurate Appraisal Services


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    Professional, high quality, appraisal and valuation services for lenders, attorneys, homeowners, broker, corporations and more.

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    In addition to experience and qualifactions, his service and communication with clients is top-notch. Whether it is an appraisal for divorce, bankruptcy, estate settlement, relocation, or an appraisal in conjunction with selling your home, Jack and his staff will treat it as THE most important appraisal ever. Because it is!.

    Click link above

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    Attn Mobile User: The “Order an appraisal”, “Services” and “Ask Jack” links below are not currently working. Our web provider is actively working on this. To order an appraisal click the blue Order an Appraisal button above.

    Our Commitment to You

    As I have discussed earler, real estate values are not linear. Each year in New Hampshire, prices change and follow a predictable path like the graph illustrates. Prices rise in the spring, level off in the summer and early fall and decline in the late fall and winter. Check out “North End” Manchester as of […]. Read More

    Even in years where the market seems stable, property values fluctuate over the course of the year. Historically, values increase in the spring and early summer, stabilize in summer and early fall and decrease over the winter season. This is attributed to several factors such as the “holiday season” and the harsh cold winters we […]. Read More

    Tax abatements, Obtaining a Divorce Appraisal, “Does recessed lighting add value” and should I wait until spring to sell”? Home seller: Should I wait until spring to sell my house” (note: this person is located in Greater Manchester, NH) Jack: If your house is prepared to sell (cleaned, repaired. Read More

    Try this short quiz to see which 2016 Presidential candidate you side with… http://www.isidewith.com/elections/2016-presidential-quiz?from=ThmUutAnS Jack Lavoie, SRA Designated member Appraisal Institute Accurate Appraisal Services a division of Jack Lavoie Real Estate, LLC 62 Quincy Drive Bedford, NH 03110 Office: (603) 644-1000 http://www.j. Read More


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    Buying a business – Canada Business Network #business #licence

    #buying a business

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    Buying a business

    Buying a business can take time, energy and a fair bit of research. It can be less risky and more affordable to purchase an existing business than to start one from scratch, but it is important that you do your homework to ensure that you buy the right business for you, and that you pay a fair price for it.

    On this page:

    Where to find a business to buy

    Businesses for sale are often advertised in print media and online, but sometimes business opportunities can be misleading. Make sure to do your due diligence before you take action. Try trade publications or commercial investment magazines, or talk to a broker who specializes in a specific industry. Networking at business events can help get the word out that you are looking to buy.

    Find buyers or find a business to buy based on algorithms allowing you to find the best match based on skills and goals.

    Looking to buy or sell an existing business in Ontario? Use this online marketplace to find available businesses that match your search criteria.

    What kind of business should I buy?

    If you buy an existing business, you have two choices: franchise, or traditional (independent) business. There are advantages and disadvantages to both.

    • Proven track record This is an established business with a proven concept; there is less risk and less initial capital required than with starting something brand new. Similarly, when it comes time to sell, you may have an easier time finding prospective buyers for a known entity.
    • Built-in customer base People know what to expect from your business because they know the brand, and trust the product or service.
    • Setup, support and training Having a parent company means having the infrastructure and processes in place, from equipment to uniforms to corporate advertising, rather than having to develop them on your own. Other franchisees can also be a source of support.
    • Set of rules and regulations to follow When you operate a franchise, you have less control over the operations than if you own an independent business; you also have to pay a percentage of your revenues to the parent company, which reduces overall earnings.
    • More control and responsibility You have the autonomy to set your own rules, but the success or failure of the business rests solely on your shoulders.
    • No fees or royalties You keep all of your earnings without sharing any of the profits.
    • More opportunity and risk You can sometimes find a business that may not be doing well but has potential. If you are willing to do the work, you may reap the rewards; you must be prepared if things don t turn out as planned.

    Evaluating a business

    Before deciding to buy a business, you should evaluate its condition and potential. Think about the following things:

    • What is the physical location of the business like? Is the office, warehouse, plant or retail space in good shape? What about any equipment or inventory?
    • If it s an online business, how well-designed is the website? Is it secure? Are there any metrics to study?
    • Does the business have a good reputation? You can check online for customer reviews.
    • How visible and easily accessible is the business? Is it located in an urban or rural area? You will have to consider expenses like increased shipping costs if you are farther away from your suppliers and customers.
    • Are the products or services generating revenue? Are sales increasing, decreasing or are they flat?
    • Does the business have a good working relationship with its suppliers and bank?

    If a business is doing poorly, examine what the potential causes are. It may be a case of poor management, or inadequate resources. If you think you can turn it around and make it profitable, you could stand to gain from your investment; on the flip side, you are taking a big risk if it doesn t work out.

    If a deal seems too good to be true, chances are, it probably is. Learn how to determine what type of business you should buy.

    Know your options when buying a business. Consider the pros and cons of each business type, situation and stage.

    If you need to know the value of your business, learn about the different approaches to business valuation.

    What is a fair price to pay for a business? Read this article to learn how to estimate the value of a business.

    Protect yourself when buying a business. This article outlines the steps you need to take before signing on the dotted line.

    Determining how much to pay for the business

    As a buyer, it all comes down to knowing what you can afford before negotiations start. You should be flexible in your negotiations, but also keep your budget and the value of the business in mind.

    What is the value of the business?

    • You will have to determine the value of assets such as the building, equipment and products.
    • Further factors to consider are the business financial statements, annual reports and intellectual property (for example, patents and trade-marks).
    • Other valuable assets to any business are its reputation, customer lists, and quality of personnel.

    Talk to clients who buy directly from the business. It is better to find out the reputation of a business before you sign on the dotted line. Banks are more receptive to a business that has a proven track record.

    Find out how to access funding for your business.

    Final considerations

    • Take your time and verify all of the information you are given before you commit yourself.
    • Buy a business in an industry you know well and with products or services you are comfortable selling.
    • Buy based on the return on investment and not only the price. You don t want to leave yourself short of funds for future expenses.
    • Investigate suppliers, clients and the reputation of the business before you buy.

    If you are buying a business and its inventory and assets, learn about some of the requirements, changing ownership and GST/HST considerations.

    Was this information useful?

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    Checkmate by Car-Part #auto, #automotive, #car, #parts, #trucks, #used, #recycled, #recycler, #vehicles,


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    Checkmate:
    The management system that helps you run your business faster, better, and cheaper!

    To compete in the salvage industry today, you need smart tools that can help you effectively run your business and sell parts. Checkmate is the inventory management system recyclers choose to manage their business, maintain their inventory and sell more parts quickly, efficiently, and proactively.

    Checkmate is a robust product that provides many powerful features. It also integrates with many of our other products, giving you a true end-to-end workflow.

    Checkmate Workstation gives you access to many Checkmate and Car-Part tools from within one program, and these tools help you increase sales and improve your business’s efficiency. Checkmate Workstation “houses” all of our Checkmate products and services in one window so it’s a snap to access and switch between programs:

    • Dashboard . Real-time overview of your business, displaying charts and graphs with essential information about sales, inventory, employees, and more.
    • Imaging . Easily add images to your parts and vehicles with drag-and-drop convenience. These images are visible in Checkmate and uploaded to online search results.
    • eBay (Checkmate Listing Manager) . List many parts on eBay at once, with just the click of a button.
    • Reports . Checkmate Reports and Advanced Management Reports give you easy access to all of the data that is stored in your Checkmate system. Unlock information that helps you make business decisions and manage more effectively.
    • Checkmate Sales Pro . A modern and intuitive sales workflow.
    • Checkmate Retro . The traditional character-based Checkmate interface.
    • QuickBooks Integration . Automatically transfer sales from Checkmate to QuickBooks. Any sales or returns done in QuickBooks are automatically transferred by Checkmate.
    • and much more!

    “Just did a 128 part sale today (all cores) using Checkmate Sales Pro. It’s amazing how much time it saves. The interface is much more user friendly and understandable than my experiences with other options. Keep up the great work!”


    David Bebesi
    J and J Auto Wrecking
    Marshallville, OH

    Checkmate Sales Pro is our new, completely redesigned, modern and intuitive sales workflow! Lightning fast and simple to navigate!

    • View customer purchase and payment history while making your sale
    • Easily sell multiple parts at once
      • Includes the industry’s most advanced interchange, including SmartVin and Car-Part Interchange Plus
      • SmartVin and Smart Interchange eliminate non-applicable choices
      • Alternative Vehicles – body style lookups for non-interchange and non-inventoried parts
      • Alternative Parts – body style lookup for non-interchange and non-inventoried parts
    • Fully customizable search results screen with vehicle and part images, plus Car-Part request data
    • Create Quotes, Work Orders, Invoices, Credits, and Returns with one click or keystroke
    • Purchase Orders are created automatically
    • Email barcoded invoices
    • Switch between tasks in a snap!

    Industry-Leading Support: Online technical support is available to Checkmate customers whenever you need it in our Car-Part Messaging support rooms. 24-hour-a-day live support is available at 859-344-1925!


    Advantages of Online Shopping and its Disadvantages #online #education #disadvantages, #buying #online


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    Advantages of Online Shopping and its Disadvantages

    November 17, 2013

    Online shopping has become a popular shopping method ever since the internet has declared a takeover. There are many individuals that are looking for other amazing alternatives shopping and online shipping is just the fix for that.
    There are many advantages of online shopping; this is the reason why online stores are a booming business today. Online shopping includes buying clothes, gadgets, shoes, appliances, or even daily groceries. Listed below are several online shopping advantages and these are the following.

    Advantages of Online Shopping

    • Save Time – Do you have the specific list that you want to buy? With just a couple of clicks of the mouse, you can purchase your shopping orders and instantly move to other important things, which can save time.

    • Save Fuel – The market of fuel industries battles from increasing and decreasing its cost every now and again, but no matter how much the cost of fuel are it does not affect your shopping errands. One of the advantages of shopping online is that there is no need for vehicles, so no purchase of fuel necessary.

    • Save Energy – Admit it, it is tiresome to shop from one location and transfer to another location. What is worse is that there are no available stocks for the merchandise you want to buy. In online shopping, you do not need to waste your precious energy when buying.

    • Comparison of Prices – The advanced innovation of search engine allows you to easily check prices and compare with just a few clicks. It is very straightforward to conduct price comparisons from one online shopping website to another. This gives you the freedom to determine which online store offers the most affordable item you are going to buy.

    • 24/7 Availability – Online shopping stores are open round the clock of 24/7, 7 days a week and 365 days. It is very rare to find any conventional retail stores that are open 24/7. The availability of online stores give you the freedom to shop at your own pace and convenience.

    • Hate Waiting in Lines – When buying items online, there are no long lines you have to endure, just to buy your merchandise. The idea of shopping online is cutting down those bad habits of standing in a long line and just waiting. Every online store is designed with unique individual ordering features to purchase the item.

    • Too Ashamed to Buy – There are times that you want to purchase something out of the ordinary that can be a bit embarrassing when seen by other people. Items like weird ornaments, sexy lingerie, adult toys, etc. In online shopping, you do not need to be ashamed; your online transactions are basically done privately.

    • Easy to Search Merchandise You Want to Buy – You are able to look for specific merchandise that includes model number, style, size, and color that you want to purchase. In addition, it is easy to determine whether the products are available or out of stock.

    Disadvantages of Online Shopping

    If there are advantages, most likely there will be disadvantages. Despite the success of purchasing through online shopping stores, there are still some disadvantages that most people complain about. These include:

    • Personally Check the Item – If you are one of those shoppers who want to touch, see, and test the product personally, at online shopping, you are not able to do so. Online stores are only showing product description and photos of the merchandise, which can be a disadvantage for many online shoppers.

    • Diminished Instant Satisfaction – Unlike buying at retail stores, you are able to use the product instantly after you buy it, which can be satisfying. However, online shopping requires patience to wait for the item to arrive at your door step about 2 to 3 days or even longer depending on the location you’ve ordered it from.

    Online shopping is continuously becoming more popular and improving every single day. Knowing the advantages of online shopping and its disadvantages is additional knowledge for a lot of online shoppers that are useful before shopping online.

    buying online


    The Basics of Buying Homeowners Insurance #buying #homeowners #insurance


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    The Basics of Buying Homeowners Insurance

    We are about to settle on our first home, and we don’t know the first thing about buying homeowners insurance. How do we get started, and what do we need to know?

    Congratulations on buying your first home! Start by getting a price quote from the company that handles your auto insurance — you generally get a discount on your auto and home insurance if you have both policies with the same company. If you have an auto insurance agent, find out whether he or she works for one company or is an independent agent who works with several companies. An independent agent can give you price quotes from several insurers. You may also want to contact a few big insurers separately, such as State Farm, which doesn’t sell through independent agents. And if you have any military connection in your family, it’s worthwhile to contact USAA, too (see USAA’s page for a list of who is eligible ). If you don’t have an independent agent, you can find one in your area through the Independent Agents and Brokers of America agent search.

    But before you start comparing quotes, you’ll need to decide how much coverage to get. A home’s insurance value is based on the cost to rebuild the house, not the market value. And even though market values are still down in many areas, rebuilding costs are on the rise. You can get an estimate of the home’s rebuilding cost at AccuCoverage.com. which asks a lot of questions about the size of the house and the building materials and details, then uses the same building-cost database that insurers use. Or you can work with the agent or the insurer to come up with an estimate.

    Homeowners insurance automatically provides coverage for your possessions based on a certain percentage of your home’s insurance value — 75% is typical. So if your home is insured for $200,000, you’ll also have up to $150,000 of coverage for your possessions. But homeowners insurance policies usually have lower limits for certain kinds of items — such as $2,000 or $3,000 for all of your jewelry, for example. If you have any particularly valuable possessions — such as jewelry, artwork or special collections — you may want to get extra coverage for those items. See What Does Homeowners Insurance Really Cover? for more information about special coverage for valuables.

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    You’ll also need to choose the deductible amount. One good way to lower premium costs is to choose a deductible of at least $1,000. That will reduce your premium and discourage you from filing small claims that could get you dropped by the insurer or cost you a claims-free discount. Then be sure to keep enough money in your emergency fund to cover the deductible, in case you need to file a claim.

    Before you settle on an insurance company, check out the insurer’s complaint record through the National Association of Insurance Commissioners Consumer Information Source. Saving a few dollars in premiums can backfire if your insurer ends up hassling you about claims.

    If you’re concerned about flooding, which isn’t covered by homeowners insurance, go to www.floodsmart.gov to see the home’s risk of flooding and get prices for flood coverage through the National Flood Insurance Program. You can buy flood insurance through most homeowners insurance agents. Your mortgage company may require flood coverage if you live in a high-risk area, but it can be worthwhile to get the coverage even if it’s not required. See Protect Your Home and Finances Against Floods for more information.

    When you move into your new home, it’s the perfect time to conduct an inventory, which will streamline the claims process if you have to file a claim in the future. Take photos or a video of every room, keep receipts for valuable items, and keep a copy of the file somewhere away from home so it’s easy to access if needed. See How to Prepare for an Emergency for details.


    Tweedy, Browne Company LLC #tweedy, #tweedy #browne #company #llc, #value #investing, #equity


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    Welcome to Tweedy, Browne

    We invite you to browse through our website and learn more about Tweedy, Browne, our value investment philosophy, our long history and the people who are Tweedy, Browne. For over ninety years we have been active in the value investing business. It is our only business and it is how we invest our own money. As of March 31, 2017, the current Managing Directors and retired principals and their families, as well as employees of Tweedy, Browne had more than $1.1 billion in portfolios combined with or similar to client portfolios, including approximately $128.4 million in the Global Value Fund, $74.3 million in the Value Fund, $7.2 million in the Worldwide High Dividend Yield Value Fund, and $5.6 million in the Global Value Fund II — Currency Unhedged.

    We have tried to make our website informative and encourage you to read about our history and our investment approach. We believe it is important that our investors and clients understand who we are and what we do. In the “About Us ” section, you will learn about our firm, its origins and associations with some of the legends of value investing such as Benjamin Graham, the “father of value investing.” Also, under “Investment Philosophy ,” we describe in detail our investment principles. In the “Research and Reports ” section, you’ll find an archive of quarterly commentaries, annual and semi-annual reports of our mutual funds along with research papers, numerous articles and interviews concerning Tweedy, Browne.

    We welcome your visit and hope you will learn more about investing and our approach to value. We also welcome your suggestions on how we may improve our website and better serve you.

    William H. Browne
    Thomas H. Shrager
    John D. Spears
    Robert Q. Wyckoff, Jr.
    Managing Directors

    The information on this website is intended for U.S. residents only. Tweedy, Browne Global Value Fund, Tweedy, Browne Global Value Fund II Currency Unhedged, Tweedy, Browne Value Fund and Tweedy, Browne Worldwide High Dividend Yield Value Fund are registered only in the United States and the information on this website does not constitute an offer to sell or a solicitation of an offer to purchase the Funds, which are not available to persons outside of the United States.

    Current and future portfolio holdings are subject to risk. Investing in foreign securities involves additional risks beyond the risks of investing in U.S. securities markets. These risks include currency fluctuations; political uncertainty; different accounting and financial standards; different regulatory environments; and different market and economic factors in various non-U.S. countries. In addition, the securities of small, less well known companies may be more volatile than those of larger companies. Value investing involves the risk that the market will not recognize a security’s intrinsic value for a long time, or that a security thought to be undervalued may actually be appropriately priced when purchased. Dividends are not guaranteed, and a company currently paying dividends may cease paying dividends at any time. Diversification does not guarantee a profit and does not protect against a loss in a declining market. Please refer to the Funds’ prospectus for a description of risk factors associated with investments in securities which may be held by the Funds.

    To view the accompanying prospectus please click on the Prospectus icon which appears at the top of the screen. Tweedy, Browne Global Value Fund, Tweedy, Browne Global Value Fund II Currency Unhedged, Tweedy, Browne Value Fund and Tweedy, Browne Worldwide High Dividend Yield Value Fund are distributed by AMG Distributors, Inc. Member FINRA /SIPC. Certain employees of Tweedy, Browne are registered representatives of AMGDI.

    As reflected herein, in late 2006 the name of the Tweedy, Browne American Value Fund was changed to the Tweedy, Browne Value Fund. This website may contain some historic content that was created before the name change and therefore may still reference the Fund’s name prior to the change in name. Because this material is still thought to be relevant, it is being maintained on the website in its original form. All references to the Tweedy, Browne American Value Fund in these historic documents should now be deemed to refer to the Tweedy, Browne Value Fund.


    Buying a car in america – Travellerspoint Travel Forums #buying #a #car


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    buying a car in america

    1. Posted by OZRod ( Budding Member 3 posts) 8y Star this if you like it!

    I’m going on a trip to America later on in the year and I want to buy a car, drive from one side to another and then ship the car back to Australia. How does a traveller do this as I have heard that you have to have a social security number, an address for the title of the car and insurance. Does anyone know if all that is correct and how does a traveller buy a car legally? Any information would be much appreciated.

    2. Posted by Daawgon ( Travel Guru 2004 posts) 8y Star this if you like it!

    I really think you need to correspond with a dealer directly – for God sake, don’t buy “American”. Why would you want an opposite drive car in Australia? Sounds like a very bad idea to me – they do have long term rentals at most of the major agencies.

    3. Posted by OZRod ( Budding Member 3 posts) 8y Star this if you like it!

    Mate, I didn’t ask if you liked what I was doing, or even agreed with it. All I was asking was how do I go about it. I don’t want to rent a car, I have always wanted to buy an “American” car and have here in Australia and I don’t think I am going to change my plans just because your opinion is different to mine. Why did you even reply to my posting when your answer has nothing to do with what I was asking.

    I am asking for help, not opinions on what you think I should do. You have me baffled as to why you even answered my post.

    4. Posted by gocebe ( Inactive 48 posts) 8y Star this if you like it!

    It took me three years to get a cellphone in this country. So I can’t imagine buying a car! Americans seem to have too many unnecessary regulations for too many things. So buying a car as a traveler might be a problem and I think shipping your car to Australia might be a double problem.

    As far as I know this is what you need:

    Social Security Number: you can get this number even if you are not a citizen but you need an address, in order for them to send you your social security card. I don’t remember exactly how long it takes them to send it to you. I would say 3+ weeks.

    Credit History: I have never understood this term anyway. So you need to have a credit history but in order to have a credit history you need to have a credit card in the USA. But when you go to a bank to apply for a credit card, they ask if you have a credit history. Quite confusing.

    Also depending on the state you buy your car, you would probably need an American driving license. And once you have this brand new license, when you get insurance it would be super expensive. If you have had your Australian license for years, make sure you make RMV (registry of motor vehicles—where you get license) carries Australian license years onto US license years. Then your insurance would be cheaper.

    I know that I am not helpful at all but try contacting a dealer directly.

    5. Posted by vegasmike6 ( Travel Guru 3562 posts) 8y Star this if you like it!

    Rod,
    Buying a car is pretty straightforward. I have helped 2 Brits buy vans here in Vegas. You need an International Drivers License, a local address and money. We found a van and had it on the road the next day. Buy it from a dealer or individual, go to an insurance agent. He paid $100/month for basic insurance. Went to our DMV, showed them the title to the van, insurance papers, smog cert. (seller provided), and paid the transfer fee, sales tax and license plate fee. It cost about $150 to license the van. They send the title to the address provided, takes about 4 weeks. You can drive it that day, but cannot sell it until you have the title. Your IDL is valid for a visitor driving in the US. Some States like Oregon have no sales tax, so it is cheap to buy/license a car/van/rv there.

    I found this website for shipping a car to OZ. Cost about $3K for shipping plus paperwork. Good luck.

    6. Posted by OZRod ( Budding Member 3 posts) 8y Star this if you like it!

    Thanks Gocebe and VegasMike. Atleast now I have a direction in which to try and work out how to go about it.

    7. Posted by tleb ( Full Member 117 posts) 8y Star this if you like it!

    I’ve driven a Japanese SUV here in Canada. It’s fun watching people do double takes when you are driving it alone. Plus it had all kinds of cool guages i had never seen in an SUV. Had a pitch guage, a yaw guage, an altimeter, and a mystery meter that measured it’s units by the millions.

    I like your idea. Maybe I will come to Australia and buy a car. The shipping costs have gotta hurt. Whats a sea container rental worth from Australia?

    8. Posted by Buster1 ( First Time Poster 1 posts) 8y Star this if you like it!

    Great idea OZRod, and very easy to purchase a car in the US, but only if you have a permanent US address you can register the car to. My husband and I did what you’re planning to do (only we didn’t ship our car home). We purchased a car from Oregan from a well known on-line auction site. Fortunately we knew someone who lived in that same area who could pick the car up and store it until we arrived in the US (from Oz). We chose Oregon because it has the cheapest registration fees in the US ($25 per year in 2003). Once we arrived we just purchased insurance in the usual way (ie, provided proof of vehicle purchase, personal identification, intnl driver’s licence and our friend’s address) and then headed off to the local Vehicle Rego Office to queue for an hour or so. As you are no doubt aware, insurance is compulsory over there, so you need to be able to provide the paperwork to get your vehicle registered. Once we did that it was happy travels all round! So all in all, as long as you can provide a permanent US address, the process is no different to here in Oz. We spent 7 great weeks driving across to the mid-west and then sold the car in LA the day before we headed home (bonus for us!).

    Incidentally, we’re planning to do exactly the same thing again this September, and I’ve been trying to find out if there is any other way to purchase a car without having a permanent US address. Unfortunately I haven’t been able to find anything, so it’s back to Oregan again to buy our car!

    Hope this info helps. have a great trip.

    [ Edit: Edited on 26-May-2009, at 17:38 by Buster1 ]


    What to Ask Before Buying an Annuity #buying #annuity


    What to Ask Before Buying an Annuity

    Heard the stories about people who are sold an annuity but later aren’t sure what they’ve invested in?

    SEE ALSO: Special Report on Understanding Annuities

    Michael Furois, a financial planner in Chesterton, Ind. has heard plenty of complaints from clients who were sold annuities before coming to him but didn’t really know what they were buying. “It’s a complicated product that most people don’t understand,” Furois says. “If people understood the ins and outs of annuities, there would be fewer sold.”

    Note that it’s deferred annuities — tax-deferred products designed for retirement saving — that create most of the confusion, not single-premium immediate annuities. Deferred annuities make sense for some people. But to be sure they’re right for you, learn the answers to these questions.

    How do annuities work?

    An annuity is an insurance product: You make a lump sum payment or series of payments, and the money grows tax-deferred at a fixed or variable rate (the accumulation phase). In return, the insurer agrees to make periodic payments to you for the rest of your life (the payout or annuitization phase). Annuities also have a death benefit (this is where the insurance comes in) that entitles your beneficiary to the value of your annuity or a guaranteed minimum, whichever is greater.

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    But there are lots of twists. You can’t withdraw the money until you’re 59½, or you’ll be hit with a 10% penalty on earnings. Plus, you’ll pay a surrender fee if you tap the annuity before a certain period laid out in the contract (usually seven years).

    Another drawback: Earnings are taxed as income rather than at the long-term capital gains rate. And annuities usually charge more than 1% a year for the death benefit, but it pays off only if you die when your account has fallen below the minimum guarantee.

    What type of annuities are there?

    There’s a whole slew of annuity products, but deferred annuities fall into three main categories:

    Fixed annuity. You lock in a guaranteed rate of return for periods ranging from one year to ten years. Rates can fluctuate but will never drop below your guaranteed rate. You won’t lose money, but you won’t have the potential for growth you’d get by investing in stocks or stock funds.

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    If you meet the annuity-buyer profile, a fixed-rate annuity is worth considering now — especially if you have low risk tolerance and a shorter time horizon for when you need the money.

    Variable annuity. The money is invested in accounts similar to mutual funds. Just like investing in a regular mutual fund, you can see substantial gains or watch the value of your account plummet. But you’ll pay higher fees for the annuity (more on fees below). If a variable annuity is cheap enough, it can make sense in certain cases.

    Plus, your heirs will owe tax on the earnings built up during your lifetime (just as you would). Outside an annuity, the part of the inheritance attributable to unrealized capital gains would be tax-free.

    Equity-indexed annuity. Like a fixed annuity, you get a guaranteed rate and fixed payments with this product. But it provides more opportunity for growth because it’s tied to an index such as the Standard & Poor’s 500.

    Advertisement

    What are the fees?

    With fixed and equity-indexed annuities, fees and commissions are factored in and lower your yield.

    Variable annuities have a mortality and expense charge to cover the risk the insurance company takes on to pay you lifetime income. Then administrative and annual records maintenance fees are deducted. Annual fees average 3.5% — more than double those of the average mutual fund. There’s also a yearly contract charge of $25 or so.

    And don’t forget the surrender fee that applies if you withdraw money early. Fixed and equity-indexed annuities are subject to these fees as well. These penalties average 5.5% and generally phase out after you’ve been in the annuity for a few years.

    Who should invest in one?

    You shouldn’t even consider investing in an annuity unless you are already contributing the maximum to other retirement plans, such as an IRA or 401(k). That’s because those plans provide the same tax deferral as annuities but without as many fees. If you invest in an annuity inside a tax-advantaged account, you get no extra tax benefit.

    Advertisement

    QUIZ: Are Annuities Right for You?

    The early-withdrawal penalty and surrender fees make an annuity useless for short-term saving. With a variable annuity, for example, you pay higher tax rates and higher expenses for the funds in the annuity than you’d pay for funds outside the annuity. You’d need to hold an annuity at least 15 years for the benefits of tax deferral to outweigh the extra costs (the breakeven point depends on your tax bracket and the fees).

    So the ideal annuity buyer is someone making the maximum contributions to other retirement plans, who can live without the money until after age 59½, and who is in at least the 25% tax bracket to take advantage of the tax deferral. You also might be a good candidate if you’re concerned about outliving your savings because annuities can provide a guaranteed stream of income in retirement.

    Advertisement

    Buying a business: Starting a business advice and business ideas #small #business

    #buying a business

    #

    Buying a business

    Buying an existing business can be a successful route to becoming your own boss. Take a look at the steps involved in finding, valuing and buying a small business to decide if buying a business is the right direction for you.

    How to start a business: What you need to know

  • Buying a business: Cafes and coffee shops

  • Buying a business: Tea rooms

    Key topics

    Startups answers the key questions you should ask before starting your own business

    David Soskin tells us about how he took over Cheapflights.co.uk

    Why buying a failing business may leave you in difficulties too

    Latest on Startups

    Useful business start up tools

    Forum post of the week

    Want to run a more profitable business?

    More from Startups





  • Can You Buy Ammo Online – Laws for Buying Ammunition #bulk #ammo,buy


    #

    No FFL / FOID faxing or uploading required to buy ammo in most states!

    Can you buy ammo online? Of course you can! Buying ammo online is something some people avoid because they are not familiar with the ammunition laws in their area. However, as long as you known the laws in your jurisdiction, buying ammo online can be a great way to buy hard to find ammunition at great prices. The next time you find yourself asking “Can I buy ammo online?”, simply check this page for information on federal, state and local laws on shipping ammunition while ordering online.

    Buy Ammo Online

    Ready to buy ammunition online? If you already know your local ammo laws you can go directly to our ammunition store. If not, please review our Shipping Returns. Frequently Asked Questions. this page, and agree to the Terms and Conditions at checkout to buy online from Ammunition Store! Only residents in the restricted areas below will need to send the required credentials via fax or e-mail before our products can be shipped. For more information on guns and ammunition laws in your state, visit the NRA-ILA state laws page.

    AGE RESTRICTIONS: You must be 21 years of age to purchase handgun ammunition and at least 18 years of age to purchase rifle ammunition.

    PLEASE TAKE THE TIME TO DOUBLE CHECK YOUR STATE / LOCAL LAWS

    Any order placed that does not meet these legal requirements will be automatically canceled and refunded minus a 4% fee. Why you ask? If you place an order online we get charged a fee by the credit card companies for the transaction, we will not absorb this cost due to people not knowing their state laws.

    Federal Magazine and Ammunition Shipping Restrictions

    18 USC 922

    (g) It shall be unlawful for any person

    (1) who has been convicted in any court of, a crime punishable by imprisonment for a term exceeding one year;

    (2) who is a fugitive from justice;

    (3) who is an unlawful user of or addicted to any controlled substance (as defined in section 102 of the Controlled Substances Act ( 21 U.S.C. 802 ));

    (4) who has been adjudicated as a mental defective or who has been committed to a mental institution;

    (5) who, being an alien

    (A) is illegally or unlawfully in the United States; or

    (B) except as provided in subsection (y)(2), has been admitted to the United States under a nonimmigrant visa (as that term is defined in section 101(a)(26) of the Immigration and Nationality Act ( 8 U.S.C. 1101 (a)(26) ));

    (6) who has been discharged from the Armed Forces under dishonorable conditions;

    (7) who, having been a citizen of the United States, has renounced his citizenship;

    (8) who is subject to a court order that

    (A) was issued after a hearing of which such person received actual notice, and at which such person had an opportunity to participate;

    (B) restrains such person from harassing, stalking, or threatening an intimate partner of such person or child of such intimate partner or person, or engaging in other conduct that would place an intimate partner in reasonable fear of bodily injury to the partner or child; and

    (i) includes a finding that such person represents a credible threat to the physical safety of such intimate partner or child; or

    (ii) by its terms explicitly prohibits the use, attempted use, or threatened use of physical force against such intimate partner or child that would reasonably be expected to cause bodily injury; or

    (9) who has been convicted in any court of a misdemeanor crime of domestic violence, to ship or transport in interstate or foreign commerce, or possess in or affecting commerce, any firearm or ammunition; or to receive any firearm or ammunition which has been shipped or transported in interstate or foreign commerce.

    (n) It shall be unlawful for any person who is under indictment for a crime punishable by imprisonment for a term exceeding one year to ship or transport in interstate or foreign commerce any firearm or ammunition or receive any firearm or ammunition which has been shipped or transported in interstate or foreign commerce.

    No .50 BMG caliber ammo. No armor piercing ammo.

    Any ammo component such as cases, primers, powder or bullets is considered to be “ammunition” in Washington DC and thus requires a license as well.

    Buying Ammo Online

    Buying ammo online with us is an extremely easy process that can save you money on the ammo you need. We do have a few tips to make buying your ammunition online as simple as possible, and also to guarantee that every customer is completely satisfied with their purchase with us.

    Tips for Buying Ammunition Online:

    • Make sure that if you are buying primers online that you add the associated hazmat fee to your order. We cannot ship your order without charging this fee as this is a federally mandated charge. It is also not possible to return primers as no carrier will accept a haz-mat return. Make sure to double check your order before submitting it.
    • When submitting your online ammo order, be sure to leave any special shipping requests that you may have in the comments section of the order page. This could include if you would like your shipment in a plain, unmarked box and other things like which door you would prefer the package to be left at.
    • Our website is capable of processing online ammunition orders of up to 776 pounds. If your order is 776 pounds or more, please call to place it. We are able to accommodate freight shipments by the pallet if necessary.
    • Shipping charges are NON-REFUNDABLE. If you provide us with an invalid shipping address on your order, and the merchandise gets returned to us, we will refund the cost of the item however shipping charges will not be refunded. Please verify your shipping address with UPS before ordering. Also, please note there is a 15% restocking fee on all returned items.

    Why Buy Ammunition Online?

    A lot of people avoid buying ammo online because they don’t realize how easy it is to buy online. Either that or maybe they are just old school and don’t know how to use a computer. The truth is though, that when you buy ammo online you save yourself time and money. Here’s why:

    • You will likely find that you have a much better selection when you decide to buy ammunition online.
    • If you buy ammo online, you can usually get a much better deal.
    • Find hard to find ammo in bulk. We offer military surplus, bulk ammo, all at affordable prices.
    • Buy ammunition from the comfort of your home.
    • Check ammunition stock levels in our store from your computer, tablet, even your phone. Never drive down to the ammo store hoping they got those hard-to-find rounds in you’ve been looking for for months.

    Ammunitionstore.com


    Buying a business #free #business #cards

    #buying a business

    #

    smallbusiness.wa.gov.au

    Buying a business

    Buying an established business requires a major commitment of time, money and energy. Doing your research before making a decision is essential.

    The process for purchasing a business generally follows these steps:

    Understanding the advantages and disadvantages of buying a business

    Advantages of buying an established business include:

    • initial establishment and ground work has been done
    • client base is established
    • there is an existing market for the products/ services
    • a proven financial record that could make it easier to access finance.

    Disadvantages of buying an established business include:

    • you may need to honour or renegotiate outstanding contracts
    • the current staff could prove hostile
    • you may need to invest additional money to make the business successful.

    Identifying the right business

    What is the ‘right’ business will vary, depending on your particular needs and lifestyle.

    Before selecting a business check you:

    • are physically, financially and emotionally suited to the business
    • have the necessary skills, experience, time, resources, vision and commitment to make this business a success
    • will benefit from this opportunity, bearing in mind your personal circumstances.

    Businesses for sale are usually advertised in newspapers, industry magazines, and the internet. Your accountant may also be able to assist, while business brokers and commercial real estate agents are also excellent resources. The Business Brokers Association (WA) can assist in finding a broker.

    Analysing the chosen business

    Not all businesses for sale are a good investment. Before buying you need to understand exactly what you are paying for.

    • conduct due diligence and evaluate the risk
    • have the business independently valued
    • assess existing employees against your business needs
    • investigate taxation requirements.

    Due diligence and evaluating risk

    Due diligence involves undertaking a thorough review of the business to determine the likelihood of its future success.

    You will need to obtain the following information:

    • Certified financial statements for the previous three years.
    • A balance sheet to identify assets and liabilities.
    • A list of the plant, equipment, fixtures and fittings the vendor intends to sell, along with a current valuation and associated warranties and guarantees. Before buying, confirm they can prove ownership.
    • If the premises are leased, a copy of the lease agreement.
    • If the business is a franchise, a copy of the franchisor’s disclosure statement. Learn more about buying a franchise .

    TIP: Do not sign any offers or pay any money until you have been provided with all the above, you have assessed the business and taken independent professional advice.

    Reduce the risks in buying a business by making sure all plant and equipment is in good working order, checking the vehicles are licensed, and that there are no interests on the property being sold. You can check this online via the Personal Property and Securities Register .

    Have the business independently valued

    An independent valuation will confirm that you are paying a fair price. There are three main methods of valuing a business.

    • Return on investment = net profit x 100 ÷ price
    • Asset value = assets of the business + goodwill
    • Market value = turnover x industry multiple. (This is rarely used for retail businesses).

    Existing employees

    If staff will be transferring with the business you need to be aware of your responsibilities. Specific requirements regarding the transfer of a business and employee entitlements will vary according to which industrial relations system the business is covered by.

    For state system employees visit the Department of Commerce website and for national system visit the Fairwork Ombudsman website.

    Taxation

    Unless sold as a going concern, you will need to account for GST on the sale of the business. You also need to ensure all Australian Tax Office (ATO) requirements are met

    Speak to an accountant or tax professional to understand your tax obligations or visit the ATO .

    Making an offer

    Once you decide to purchase the business the next step is to make an offer to the vendor.

    There is no standard documentation when buying a business. If you are not using a real estate agent or business broker you are likely to need a lawyer to draw up a legally binding offer and acceptance.

    For your own protection make sure all promises and undertakings given by the vendor are confirmed in writing. Your lawyer should include appropriate conditions in the offer. This will allow you to withdraw your offer, without penalty, if the vendor does not meet these conditions.

    After you agree on the price and terms of sale you will need to arrange the transfer of licences and registrations. For more information go to our licences and permit section.

    More information





    Buying an Internet Business – Why 2016 is the Year to Buy

    #internet business

    #

    Buying an Internet Business Why 2016 is the Year to Buy

    The start of a new year is always a natural time of year to make plans for the future. be it personally or professionally. It’s a good time to take stock of previous experience and think about what’s taking place in the world. Indeed, you don’t have to look too far for predictions posts at the moment, the internet is positively awash with musings about the year ahead with many exciting internet marketing trends predicted (mobile, the internet of things and as ever, more content marketing!)

    Strangely though there is not much in the way of thoughts on business buying in 2016,particularly for buying an internet business. so I’ve put some thoughts together on why 2016 is potentially a very timely year to buy.

    Buying an internet business – macro favors the opportunist

    There’s so much uncertainty in both the US and global economy at the moment that you can carve a pretty convincing argument either way for economic collapse or prosperity in 2016 (presumably that’s how Wall Street analysts keep in business come high or low…)

    I think though that when it comes to small business ownership there is strong cause for optimism this year. Consumer confidence has continued to climb through 2016 to the mid 90 s. Good news for consumer facing e-businesses.

    Investment levels always tell you something about the market’s sentiment toward both the economy and small business growth. Whilst you shouldn’t always follow the herd it’s important to note we operate in an economy based largely on consent, so if everyone else is investing it’s a good sign for personal acquisitions. US venture capital investment continue to grow year over year, and 2015 saw the largest amount of investment dollars.

    Lastly, borrowing is an essential component for acquisition and growth and it’s refreshing to see that whilst SBA lending softened a little in 2014 to $3.8bn (from $4.0bn in 2013), the lender is anticipating a huge boost in 2015 to $4.8bn. If you’re looking to debt finance an internet business acquisition, 2016 could well be the year to do it.

    A word of warning though, it can still be quite difficult to secure debt financing for online business acquisitions. SaaS businesses and recurring revenue models that have at least three years of history tend to be the most successful candidates for funding, though cash buyers will continue to have pole position in 2016. If you want to learn about alternative finance options you can read How to Buy a Website with Finance .

    Surging internet growth continues

    The nice thing about most internet trends is that they almost always face upwards which makes the old Chinese proverb of “the best time to plant a tree was 20 years ago, the second best time is now” true at the start of almost every year.

    E-commerce continues to be one of the biggest areas of internet growth and eMarketer expects the global E-commerce industry to increase another $263bn in 2015 to $1.763trn (yes trillion), all boding very well for site owners and potential business acquirers.

    Content sites will not miss out on a continued surge in internet usage as multi-device and particularly mobile usage make the web a major source of advertising dollars. Internet advertising revenues continue to rise with spending up across every single sector. from 5% YoY in entertainment to 20% YoY in retail. Digital advertising revenue is now worth more than $40bn in the US alone (as of 2014), second only to TV, and rising at 15% per annum (5x faster than any other medium).

    It’s not just the growth opportunities that are appearing in the internet investment landscape, the risk factors are somewhat fading too. Many online business acquirers are cautious of pending Google algorithm updates particularly when looking at websites with high search traffic (and they are wise to be). With the last 18 months seeing an unprecedented amount of algorithm changes. things have now started to calm and the industry is expecting a smoother runway in 2016.

    That’s not to say there won’t be movement but there is much less concern over 20% single-day traffic falls as we saw with the Penguin and Panda rollouts in 2013 and 2014. The good news for site buyers is that investors now have the pick of sites that are still standing after the updates and they also have some runway ahead before Google consider another major algorithm update.

    Mobile is an explosive opportunity

    A major part of the trends above is the continued penetration of smartphones across the US, Western Europe and Asia as well as the proliferation of multi-device. Multi-device ownership is increasingly commonplace in developed markets with 1 in 4 smartphone owners in the US and EU5 also owning a tablet.

    Almost every internet marketing predictions post is citing mobile’s importance this year and its clear from listings at FEI that site owners who have mobile-optimised their sites (at the least) or built new service or content offerings around mobile, are very well positioned for selling. With Google putting greater emphasis on the mobile user experience, potentially even incorporating “mobile-friendliness” into its search ranking algorithm, mobile-friendly is now essential.

    Digi-Capital predict 61.3% CAGR of revenue growth in mobile app revenue (ex-gaming) to 2017 which is a staggering growth rate and a huge growth opportunity for buyers of e-businesses and apps in 2016 and beyond. Advertisers worldwide are recognizing the increasing penetration of mobile and its impact on consumers, and in response, plan to spend more than $64bn on mobile ads in 2015. 60% higher than 2014.

    Favorable industry trends

    Thomas and I wrote about industry trends at the end of 2015 and we think they are aligning positively for buyers. Whilst there’s undoubtedly more buyers in the industry than ever before, the market is formalizing and this can only be a good thing for raising industry standards amongst brokers, sellers and other industry participants alike.

    An exciting new development has been the launch of Escrow’s new domain name holding service in 2014 which has dramatically increased the scope for creatively financed deals in 2016. With domain(s) held in Escrow during the deferred consideration period there is much less fear about payment default, which warms sellers to the idea of earn outs, holdbacks and other financing methods. All of this is great news for buyers looking to stretch out their funds or structures deals for lower risk.

    Speaking of formalisation, the website buying industry definitely embraced content marketing in the past few years and we have seen a marked increase in content posting by brokers, marketplaces and industry commentators alike. Centurica now publish an annual website buying report and its co-founder Justin Gilchrist also published an in-depth primer on business buying.

    FEI published a free Guide to Buying an Online Business to help educate buyers on how to run through the process successfully and to raise awareness about the asset class. In short, there’s never been more quality information available about internet business buying which is great news for new and seasoned buyers alike.

    Buying an online business?

    Download our free 83-page guide to buying and learn all you need to know

    If not now, when?

    So there are a lot of good reasons why 2016 presents a unique opportunity to buy an internet business. But the truth is, every year gives advantages over the previous year. So, if you’re waiting for the perfect time, then you’ve perhaps already waited too long. The right time to buy a business is now! Don’t wait for any arbitrary date like January 1st.

    Instead, commit to your plan and get started right now. Yes, 2016 will be a great time for buying a business but so is today .

    David Newell

    David is the Brokerage Director at FE International. Starting out as an investment banker, he moved online to use his transaction experience for website brokerage. At FE International, he spends his time speaking with buyers, executing deals and working on raising industry standards to encourage more investments. In 2014 he closed more than $6m in sales and wrote a book on buying internet businesses for investors new to the space.





    Buying a business: Starting a business advice and business ideas #business #jobs

    #buying a business

    #

    Buying a business

    Buying an existing business can be a successful route to becoming your own boss. Take a look at the steps involved in finding, valuing and buying a small business to decide if buying a business is the right direction for you.

    How to start a business: What you need to know

  • Buying a business: Cafes and coffee shops

  • Buying a business: Tea rooms

    Key topics

    Startups answers the key questions you should ask before starting your own business

    David Soskin tells us about how he took over Cheapflights.co.uk

    Why buying a failing business may leave you in difficulties too

    Latest on Startups

    Useful business start up tools

    Forum post of the week

    Want to run a more profitable business?

    More from Startups





  • Boats For Sale Newcastle – Yachts For Sale Lake Macquarie – Australian


    #

    Boats & Yachts For Sale in Newcastle and Lake Macquarie

    NEW LISTINGS REQUIRED

    SALES HAVE BEEN EXTREMELY GOOD THIS YEAR SO WE NEED LOTS OF NEW QUALITY STOCK! From trailer boats, yachts & motor cruisers to large yachts & motor cruisers. Get in contact with our sales representatives and let Australian Boat Brokers do all the work for you we make it simple ask us how?

    New Listings Required!

    Call us toll free on 1800 180 053

    FAST, PROFESSIONAL and WELL CONNECTED WE MAKE IT SIMPLE ASK US HOW! INDUSTRY BEST EXPOSURE: Your boat will receive immediate online marketing exposure on all the big websites using the latest in electronic media such as

    • www.boatsales.com.au
    • www.boatpoint.com.au
    • www.tradingpost.com.au
    • www.boatsonline.com.au
    • www.boatsonsale.com.au
    • www.australianboatbrokers.com.au

    We also include a high profile window display at our premium water front offices where we are the exclusive brokers to the Lake Macquarie Yacht Club & Marmong Point Marina.

    SERVICES

    Australian Boat Brokers offer many one stop comprehensive services. From our time tested brokerage, to valuations, insurance, boat management, detailing and antifouling. We are here to serve and develop long term customer relationships with all the valued customers that we deal with.

    • VALUATIONS
    • BROKERAGE
    • INSURANCE
    • BOAT MANAGEMENT
    • DETAILING
    • ANTIFOULING.

    Call us toll free on 1800 180 053


    Buying a business #vending #business

    #buying a business

    #

    smallbusiness.wa.gov.au

    Buying a business

    Buying an established business requires a major commitment of time, money and energy. Doing your research before making a decision is essential.

    The process for purchasing a business generally follows these steps:

    Understanding the advantages and disadvantages of buying a business

    Advantages of buying an established business include:

    • initial establishment and ground work has been done
    • client base is established
    • there is an existing market for the products/ services
    • a proven financial record that could make it easier to access finance.

    Disadvantages of buying an established business include:

    • you may need to honour or renegotiate outstanding contracts
    • the current staff could prove hostile
    • you may need to invest additional money to make the business successful.

    Identifying the right business

    What is the ‘right’ business will vary, depending on your particular needs and lifestyle.

    Before selecting a business check you:

    • are physically, financially and emotionally suited to the business
    • have the necessary skills, experience, time, resources, vision and commitment to make this business a success
    • will benefit from this opportunity, bearing in mind your personal circumstances.

    Businesses for sale are usually advertised in newspapers, industry magazines, and the internet. Your accountant may also be able to assist, while business brokers and commercial real estate agents are also excellent resources. The Business Brokers Association (WA) can assist in finding a broker.

    Analysing the chosen business

    Not all businesses for sale are a good investment. Before buying you need to understand exactly what you are paying for.

    • conduct due diligence and evaluate the risk
    • have the business independently valued
    • assess existing employees against your business needs
    • investigate taxation requirements.

    Due diligence and evaluating risk

    Due diligence involves undertaking a thorough review of the business to determine the likelihood of its future success.

    You will need to obtain the following information:

    • Certified financial statements for the previous three years.
    • A balance sheet to identify assets and liabilities.
    • A list of the plant, equipment, fixtures and fittings the vendor intends to sell, along with a current valuation and associated warranties and guarantees. Before buying, confirm they can prove ownership.
    • If the premises are leased, a copy of the lease agreement.
    • If the business is a franchise, a copy of the franchisor’s disclosure statement. Learn more about buying a franchise .

    TIP: Do not sign any offers or pay any money until you have been provided with all the above, you have assessed the business and taken independent professional advice.

    Reduce the risks in buying a business by making sure all plant and equipment is in good working order, checking the vehicles are licensed, and that there are no interests on the property being sold. You can check this online via the Personal Property and Securities Register .

    Have the business independently valued

    An independent valuation will confirm that you are paying a fair price. There are three main methods of valuing a business.

    • Return on investment = net profit x 100 ÷ price
    • Asset value = assets of the business + goodwill
    • Market value = turnover x industry multiple. (This is rarely used for retail businesses).

    Existing employees

    If staff will be transferring with the business you need to be aware of your responsibilities. Specific requirements regarding the transfer of a business and employee entitlements will vary according to which industrial relations system the business is covered by.

    For state system employees visit the Department of Commerce website and for national system visit the Fairwork Ombudsman website.

    Taxation

    Unless sold as a going concern, you will need to account for GST on the sale of the business. You also need to ensure all Australian Tax Office (ATO) requirements are met

    Speak to an accountant or tax professional to understand your tax obligations or visit the ATO .

    Making an offer

    Once you decide to purchase the business the next step is to make an offer to the vendor.

    There is no standard documentation when buying a business. If you are not using a real estate agent or business broker you are likely to need a lawyer to draw up a legally binding offer and acceptance.

    For your own protection make sure all promises and undertakings given by the vendor are confirmed in writing. Your lawyer should include appropriate conditions in the offer. This will allow you to withdraw your offer, without penalty, if the vendor does not meet these conditions.

    After you agree on the price and terms of sale you will need to arrange the transfer of licences and registrations. For more information go to our licences and permit section.

    More information





    Buying a business #ideas #for #a #business

    #buying a business

    #

    smallbusiness.wa.gov.au

    Buying a business

    Buying an established business requires a major commitment of time, money and energy. Doing your research before making a decision is essential.

    The process for purchasing a business generally follows these steps:

    Understanding the advantages and disadvantages of buying a business

    Advantages of buying an established business include:

    • initial establishment and ground work has been done
    • client base is established
    • there is an existing market for the products/ services
    • a proven financial record that could make it easier to access finance.

    Disadvantages of buying an established business include:

    • you may need to honour or renegotiate outstanding contracts
    • the current staff could prove hostile
    • you may need to invest additional money to make the business successful.

    Identifying the right business

    What is the ‘right’ business will vary, depending on your particular needs and lifestyle.

    Before selecting a business check you:

    • are physically, financially and emotionally suited to the business
    • have the necessary skills, experience, time, resources, vision and commitment to make this business a success
    • will benefit from this opportunity, bearing in mind your personal circumstances.

    Businesses for sale are usually advertised in newspapers, industry magazines, and the internet. Your accountant may also be able to assist, while business brokers and commercial real estate agents are also excellent resources. The Business Brokers Association (WA) can assist in finding a broker.

    Analysing the chosen business

    Not all businesses for sale are a good investment. Before buying you need to understand exactly what you are paying for.

    • conduct due diligence and evaluate the risk
    • have the business independently valued
    • assess existing employees against your business needs
    • investigate taxation requirements.

    Due diligence and evaluating risk

    Due diligence involves undertaking a thorough review of the business to determine the likelihood of its future success.

    You will need to obtain the following information:

    • Certified financial statements for the previous three years.
    • A balance sheet to identify assets and liabilities.
    • A list of the plant, equipment, fixtures and fittings the vendor intends to sell, along with a current valuation and associated warranties and guarantees. Before buying, confirm they can prove ownership.
    • If the premises are leased, a copy of the lease agreement.
    • If the business is a franchise, a copy of the franchisor’s disclosure statement. Learn more about buying a franchise .

    TIP: Do not sign any offers or pay any money until you have been provided with all the above, you have assessed the business and taken independent professional advice.

    Reduce the risks in buying a business by making sure all plant and equipment is in good working order, checking the vehicles are licensed, and that there are no interests on the property being sold. You can check this online via the Personal Property and Securities Register .

    Have the business independently valued

    An independent valuation will confirm that you are paying a fair price. There are three main methods of valuing a business.

    • Return on investment = net profit x 100 ÷ price
    • Asset value = assets of the business + goodwill
    • Market value = turnover x industry multiple. (This is rarely used for retail businesses).

    Existing employees

    If staff will be transferring with the business you need to be aware of your responsibilities. Specific requirements regarding the transfer of a business and employee entitlements will vary according to which industrial relations system the business is covered by.

    For state system employees visit the Department of Commerce website and for national system visit the Fairwork Ombudsman website.

    Taxation

    Unless sold as a going concern, you will need to account for GST on the sale of the business. You also need to ensure all Australian Tax Office (ATO) requirements are met

    Speak to an accountant or tax professional to understand your tax obligations or visit the ATO .

    Making an offer

    Once you decide to purchase the business the next step is to make an offer to the vendor.

    There is no standard documentation when buying a business. If you are not using a real estate agent or business broker you are likely to need a lawyer to draw up a legally binding offer and acceptance.

    For your own protection make sure all promises and undertakings given by the vendor are confirmed in writing. Your lawyer should include appropriate conditions in the offer. This will allow you to withdraw your offer, without penalty, if the vendor does not meet these conditions.

    After you agree on the price and terms of sale you will need to arrange the transfer of licences and registrations. For more information go to our licences and permit section.

    More information





    Buying a Business: What You Need to Know #business #travel

    #buying a business

    #

    Buying a Business: What You Need to Know

    For some people, buying an existing business is a better option than starting one from scratch. Why? Because someone else has done much of the legwork for you, such as establishing a customer base, hiring employees, and negotiating a lease. Still, you’ll need to do some thorough research to make sure that what you see is what you’ll get.

    What Type of Business Should You Buy?

    Look for a business that has some connection to types of work you’ve done in the past, classes you’ve taken, or perhaps skills you’ve developed through a hobby. It’s almost always a mistake to buy a business you know little about, no matter how good it looks. For one thing, your lack of knowledge about the industry might cause you to overpay. And if you do buy the business, you’ll have to struggle up a steep learning curve afterward.

    But do try to choose a business that you’re excited by. It’s easier to succeed in business when you enjoy the work you’re doing. To learn more, read Start the Right New Business for You.

    Finding a Business to Buy

    As you begin your hunt for the perfect company, consider starting close to home. For instance, if you’re currently employed by a small business you like, find out whether the present owner would consider selling. Or, ask business associates and friends for leads on similar businesses that may be on the market. Many of the best business opportunities surface by word of mouth — and are snapped up before their owners ever list them for sale.

    Other avenues to explore include newspaper or online ads, trade associations, real estate brokers, and business suppliers. Finally, there are business brokers — people who earn a commission from business owners who need help finding buyers. It’s fine to use a broker to help locate a business opportunity, but it’s foolish to rely on a broker — who doesn’t make a commission until a sale is made — for advice about the quality of a business or the fairness of its selling price.

    Research the Business’s History and Finances

    Before you seriously consider buying a particular business, find out as much as you can about it. Thoroughly review copies of the business’s certified financial records, including cash flow statements, balance sheets, accounts payable and receivable, employee files including benefits and any employee contracts, and major contracts and leases, as well as any past lawsuits and other relevant information.

    This review (lawyers call it “due diligence”) will not only help you understand how the company ticks, but will alert you to potential problems. For instance, if a major contract like a lease prohibits you from taking it over without the landlord or other party’s permission, you won’t want to finalize the deal without getting that permission.

    Don’t be shy about asking for information about the business, and if the seller refuses to supply it, or if you find any misinformation, this may be a sign that you should look elsewhere. For an extensive list of questions you’ll want answered before committing to a purchase, see The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo).

    Closing the Deal

    If you’ve thoroughly investigated a company and wish to go ahead with a purchase, there are a few more steps you’ll have to take. First, you and the owner will have to agree on a fair purchase price. A good way to do this is to hire an experienced appraiser. Next, you and the business owner will agree on which assets you’ll buy (such as a building and equipment) and the terms of payment. Most often, businesses are purchased on an installment plan, with a sizable down payment.

    After you have outlined the terms on which you and the seller agree, you’ll need to create a written sales agreement and possibly have a lawyer review it before you sign on the dotted line. One good resource is The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo), which contains a fill-in-the-blank sales agreement. Or if you’d prefer to hire a lawyer for help with this document-intensive process, Nolo’s Lawyer Directory will provide you with detailed personal profiles of lawyers in your area — all of whom have taken a pledge to treat their clients with respect.





    Buying a business #business #logo

    #buying a business

    #

    smallbusiness.wa.gov.au

    Buying a business

    Buying an established business requires a major commitment of time, money and energy. Doing your research before making a decision is essential.

    The process for purchasing a business generally follows these steps:

    Understanding the advantages and disadvantages of buying a business

    Advantages of buying an established business include:

    • initial establishment and ground work has been done
    • client base is established
    • there is an existing market for the products/ services
    • a proven financial record that could make it easier to access finance.

    Disadvantages of buying an established business include:

    • you may need to honour or renegotiate outstanding contracts
    • the current staff could prove hostile
    • you may need to invest additional money to make the business successful.

    Identifying the right business

    What is the ‘right’ business will vary, depending on your particular needs and lifestyle.

    Before selecting a business check you:

    • are physically, financially and emotionally suited to the business
    • have the necessary skills, experience, time, resources, vision and commitment to make this business a success
    • will benefit from this opportunity, bearing in mind your personal circumstances.

    Businesses for sale are usually advertised in newspapers, industry magazines, and the internet. Your accountant may also be able to assist, while business brokers and commercial real estate agents are also excellent resources. The Business Brokers Association (WA) can assist in finding a broker.

    Analysing the chosen business

    Not all businesses for sale are a good investment. Before buying you need to understand exactly what you are paying for.

    • conduct due diligence and evaluate the risk
    • have the business independently valued
    • assess existing employees against your business needs
    • investigate taxation requirements.

    Due diligence and evaluating risk

    Due diligence involves undertaking a thorough review of the business to determine the likelihood of its future success.

    You will need to obtain the following information:

    • Certified financial statements for the previous three years.
    • A balance sheet to identify assets and liabilities.
    • A list of the plant, equipment, fixtures and fittings the vendor intends to sell, along with a current valuation and associated warranties and guarantees. Before buying, confirm they can prove ownership.
    • If the premises are leased, a copy of the lease agreement.
    • If the business is a franchise, a copy of the franchisor’s disclosure statement. Learn more about buying a franchise .

    TIP: Do not sign any offers or pay any money until you have been provided with all the above, you have assessed the business and taken independent professional advice.

    Reduce the risks in buying a business by making sure all plant and equipment is in good working order, checking the vehicles are licensed, and that there are no interests on the property being sold. You can check this online via the Personal Property and Securities Register .

    Have the business independently valued

    An independent valuation will confirm that you are paying a fair price. There are three main methods of valuing a business.

    • Return on investment = net profit x 100 ÷ price
    • Asset value = assets of the business + goodwill
    • Market value = turnover x industry multiple. (This is rarely used for retail businesses).

    Existing employees

    If staff will be transferring with the business you need to be aware of your responsibilities. Specific requirements regarding the transfer of a business and employee entitlements will vary according to which industrial relations system the business is covered by.

    For state system employees visit the Department of Commerce website and for national system visit the Fairwork Ombudsman website.

    Taxation

    Unless sold as a going concern, you will need to account for GST on the sale of the business. You also need to ensure all Australian Tax Office (ATO) requirements are met

    Speak to an accountant or tax professional to understand your tax obligations or visit the ATO .

    Making an offer

    Once you decide to purchase the business the next step is to make an offer to the vendor.

    There is no standard documentation when buying a business. If you are not using a real estate agent or business broker you are likely to need a lawyer to draw up a legally binding offer and acceptance.

    For your own protection make sure all promises and undertakings given by the vendor are confirmed in writing. Your lawyer should include appropriate conditions in the offer. This will allow you to withdraw your offer, without penalty, if the vendor does not meet these conditions.

    After you agree on the price and terms of sale you will need to arrange the transfer of licences and registrations. For more information go to our licences and permit section.

    More information





    Buying a business: Starting a business advice and business ideas #business #cards

    #buying a business

    #

    Buying a business

    Buying an existing business can be a successful route to becoming your own boss. Take a look at the steps involved in finding, valuing and buying a small business to decide if buying a business is the right direction for you.

    How to start a business: What you need to know

  • Buying a business: Cafes and coffee shops

  • Buying a business: Tea rooms

    Key topics

    Startups answers the key questions you should ask before starting your own business

    David Soskin tells us about how he took over Cheapflights.co.uk

    Why buying a failing business may leave you in difficulties too

    Latest on Startups

    Useful business start up tools

    Forum post of the week

    Want to run a more profitable business?

    More from Startups





  • Buying a business #business #applications

    #buying a business

    #

    smallbusiness.wa.gov.au

    Buying a business

    Buying an established business requires a major commitment of time, money and energy. Doing your research before making a decision is essential.

    The process for purchasing a business generally follows these steps:

    Understanding the advantages and disadvantages of buying a business

    Advantages of buying an established business include:

    • initial establishment and ground work has been done
    • client base is established
    • there is an existing market for the products/ services
    • a proven financial record that could make it easier to access finance.

    Disadvantages of buying an established business include:

    • you may need to honour or renegotiate outstanding contracts
    • the current staff could prove hostile
    • you may need to invest additional money to make the business successful.

    Identifying the right business

    What is the ‘right’ business will vary, depending on your particular needs and lifestyle.

    Before selecting a business check you:

    • are physically, financially and emotionally suited to the business
    • have the necessary skills, experience, time, resources, vision and commitment to make this business a success
    • will benefit from this opportunity, bearing in mind your personal circumstances.

    Businesses for sale are usually advertised in newspapers, industry magazines, and the internet. Your accountant may also be able to assist, while business brokers and commercial real estate agents are also excellent resources. The Business Brokers Association (WA) can assist in finding a broker.

    Analysing the chosen business

    Not all businesses for sale are a good investment. Before buying you need to understand exactly what you are paying for.

    • conduct due diligence and evaluate the risk
    • have the business independently valued
    • assess existing employees against your business needs
    • investigate taxation requirements.

    Due diligence and evaluating risk

    Due diligence involves undertaking a thorough review of the business to determine the likelihood of its future success.

    You will need to obtain the following information:

    • Certified financial statements for the previous three years.
    • A balance sheet to identify assets and liabilities.
    • A list of the plant, equipment, fixtures and fittings the vendor intends to sell, along with a current valuation and associated warranties and guarantees. Before buying, confirm they can prove ownership.
    • If the premises are leased, a copy of the lease agreement.
    • If the business is a franchise, a copy of the franchisor’s disclosure statement. Learn more about buying a franchise .

    TIP: Do not sign any offers or pay any money until you have been provided with all the above, you have assessed the business and taken independent professional advice.

    Reduce the risks in buying a business by making sure all plant and equipment is in good working order, checking the vehicles are licensed, and that there are no interests on the property being sold. You can check this online via the Personal Property and Securities Register .

    Have the business independently valued

    An independent valuation will confirm that you are paying a fair price. There are three main methods of valuing a business.

    • Return on investment = net profit x 100 ÷ price
    • Asset value = assets of the business + goodwill
    • Market value = turnover x industry multiple. (This is rarely used for retail businesses).

    Existing employees

    If staff will be transferring with the business you need to be aware of your responsibilities. Specific requirements regarding the transfer of a business and employee entitlements will vary according to which industrial relations system the business is covered by.

    For state system employees visit the Department of Commerce website and for national system visit the Fairwork Ombudsman website.

    Taxation

    Unless sold as a going concern, you will need to account for GST on the sale of the business. You also need to ensure all Australian Tax Office (ATO) requirements are met

    Speak to an accountant or tax professional to understand your tax obligations or visit the ATO .

    Making an offer

    Once you decide to purchase the business the next step is to make an offer to the vendor.

    There is no standard documentation when buying a business. If you are not using a real estate agent or business broker you are likely to need a lawyer to draw up a legally binding offer and acceptance.

    For your own protection make sure all promises and undertakings given by the vendor are confirmed in writing. Your lawyer should include appropriate conditions in the offer. This will allow you to withdraw your offer, without penalty, if the vendor does not meet these conditions.

    After you agree on the price and terms of sale you will need to arrange the transfer of licences and registrations. For more information go to our licences and permit section.

    More information





    Buying a business – Canada Business Network #government #grants #for #small #businesses

    #buying a business

    #

    Buying a business

    Buying a business can take time, energy and a fair bit of research. It can be less risky and more affordable to purchase an existing business than to start one from scratch, but it is important that you do your homework to ensure that you buy the right business for you, and that you pay a fair price for it.

    On this page:

    Where to find a business to buy

    Businesses for sale are often advertised in print media and online, but sometimes business opportunities can be misleading. Make sure to do your due diligence before you take action. Try trade publications or commercial investment magazines, or talk to a broker who specializes in a specific industry. Networking at business events can help get the word out that you are looking to buy.

    Find buyers or find a business to buy based on algorithms allowing you to find the best match based on skills and goals.

    Looking to buy or sell an existing business in Ontario? Use this online marketplace to find available businesses that match your search criteria.

    What kind of business should I buy?

    If you buy an existing business, you have two choices: franchise, or traditional (independent) business. There are advantages and disadvantages to both.

    • Proven track record This is an established business with a proven concept; there is less risk and less initial capital required than with starting something brand new. Similarly, when it comes time to sell, you may have an easier time finding prospective buyers for a known entity.
    • Built-in customer base People know what to expect from your business because they know the brand, and trust the product or service.
    • Setup, support and training Having a parent company means having the infrastructure and processes in place, from equipment to uniforms to corporate advertising, rather than having to develop them on your own. Other franchisees can also be a source of support.
    • Set of rules and regulations to follow When you operate a franchise, you have less control over the operations than if you own an independent business; you also have to pay a percentage of your revenues to the parent company, which reduces overall earnings.
    • More control and responsibility You have the autonomy to set your own rules, but the success or failure of the business rests solely on your shoulders.
    • No fees or royalties You keep all of your earnings without sharing any of the profits.
    • More opportunity and risk You can sometimes find a business that may not be doing well but has potential. If you are willing to do the work, you may reap the rewards; you must be prepared if things don t turn out as planned.

    Evaluating a business

    Before deciding to buy a business, you should evaluate its condition and potential. Think about the following things:

    • What is the physical location of the business like? Is the office, warehouse, plant or retail space in good shape? What about any equipment or inventory?
    • If it s an online business, how well-designed is the website? Is it secure? Are there any metrics to study?
    • Does the business have a good reputation? You can check online for customer reviews.
    • How visible and easily accessible is the business? Is it located in an urban or rural area? You will have to consider expenses like increased shipping costs if you are farther away from your suppliers and customers.
    • Are the products or services generating revenue? Are sales increasing, decreasing or are they flat?
    • Does the business have a good working relationship with its suppliers and bank?

    If a business is doing poorly, examine what the potential causes are. It may be a case of poor management, or inadequate resources. If you think you can turn it around and make it profitable, you could stand to gain from your investment; on the flip side, you are taking a big risk if it doesn t work out.

    If a deal seems too good to be true, chances are, it probably is. Learn how to determine what type of business you should buy.

    Know your options when buying a business. Consider the pros and cons of each business type, situation and stage.

    If you need to know the value of your business, learn about the different approaches to business valuation.

    What is a fair price to pay for a business? Read this article to learn how to estimate the value of a business.

    Protect yourself when buying a business. This article outlines the steps you need to take before signing on the dotted line.

    Determining how much to pay for the business

    As a buyer, it all comes down to knowing what you can afford before negotiations start. You should be flexible in your negotiations, but also keep your budget and the value of the business in mind.

    What is the value of the business?

    • You will have to determine the value of assets such as the building, equipment and products.
    • Further factors to consider are the business financial statements, annual reports and intellectual property (for example, patents and trade-marks).
    • Other valuable assets to any business are its reputation, customer lists, and quality of personnel.

    Talk to clients who buy directly from the business. It is better to find out the reputation of a business before you sign on the dotted line. Banks are more receptive to a business that has a proven track record.

    Find out how to access funding for your business.

    Final considerations

    • Take your time and verify all of the information you are given before you commit yourself.
    • Buy a business in an industry you know well and with products or services you are comfortable selling.
    • Buy based on the return on investment and not only the price. You don t want to leave yourself short of funds for future expenses.
    • Investigate suppliers, clients and the reputation of the business before you buy.

    If you are buying a business and its inventory and assets, learn about some of the requirements, changing ownership and GST/HST considerations.

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