You’ve done the math. And the message is clear. You won’t have enough money to fund your retirement and maintain the lifestyle you’ve come to know and expect. You’re not alone. Many 60-and-over Canadians are finding they need to keep working to make ends meet, especially if they want to maintain the lifestyle they had when they were working. Some have already retired and find they need more cash.
A crisp new year... have the country’s banks opened their wallets any wider for the purchase of small businesses in Canada? Don't bank on it! Instead, prospective buyers depend on the seller taking back a percentage—usually some 20 to 50 per cent—of the agreed-upon purchase price in the form of a loan.
There are generally four ways to become a business owner: 1. Start your own business; 2. Take over a family-owned business; 3. Buy a franchise; 4. Buy an existing operating business. Each option has its own level of risk.
There are "Advance to GO" cards in the real world. For someone wanting to go into business, buying an existing profitable business is its equivalent. Compared to starting a business, such a purchase provides less risk and more potential for success.
Across North America, baby boomers have been known as both money makers and spenders. And more of them are now “making or spending” by selling or buying a business. The evidence comes from the Q1 Market Pulse survey done with business brokers across North America by Pepperdine University for the IBBA and M&A Source. Business brokers reported that in the first quarter of 2014.
Buying a business? Use the right lawyer at the right time. Even Thomas Jefferson, a lawyer himself, said that "It is the trade of lawyers to question everything, yield nothing, and talk by the hour." I speak to a lawyer every day. And it doesn’t cost me anything. He has the office next to mine!
As far as grammar goes, "lawyer" is just a noun. In practice, though, the word comes with heavy baggage and associations that go way back in time, as seen in this quote in Voyager, by Diane Gabaldon.
Have you bought a business? The following people have. While interviewing them for Sunbelt’s monthly newsletter, we asked them to share what they have learned about buying a business. These are some of their tips on buying a business.
Statistics show that owning your own business is the fastest way to financial independence, while also creating the lifestyle and liberty that goes with successful business ownership. And if you buy an existing successful business, there is a 90 to 95 per cent chance that the business will still be in business after five years (provided, of course, that you buy it right). To mark our 50th post and to help you "buy it right", we've pulled together a top 10 list of tips.
