Lance Hood and Richard Parker Discuss How to Determine the Price to Pay for an Existing Business one is Considering Purchasing
How to research and decide which type of business to buy
(EMAILWIRE.COM, April 27, 2008 ) Suwanee, GA--Manufacturing, service, retail, wholesale and the internet business all have their individual differences. Their value isn’t different simply because of what type of business they are, but each has its own strengths and weaknesses. It takes research to determine value. Unfortunately, there is no simple way to do a rough estimate.
Lance Hood of Success Insiders had this conversation with multi-business owner, Richard Parker and he was impressed with Parker’s knowledge and experience. Richard Parker explained taking financial data from an existing business and plugging it into a proprietary software program to aid in determining its value. All the work is done almost instantaneously based upon all of the criteria related to that specific business.
Richard Parker is the creator of a program, How to Buy a Good Business at a Great Price. This program takes investors through the entire process of buying an existing business from start to closing the deal. It covers where to search, how to deal with business brokers, how to negotiate the deal, questions to ask, how to value the business and how to conduct due diligence and research. The materials are written in an easy to understand format with a step-by-step process. They are backed up with interactive resources like valuation programs, legal agreements and templates to follow to save money on attorneys and accountants. “I’m not telling anyone they should not engage an attorney and accountant during this process; they should, but you can save a ton of money on their fee,” explains Parker.
Richard Parker also discussed the challenge of choosing a type of business to go into. Whatever it is that the potential business owner does best, that will be a driving force of the revenues and profits; it will help in choosing the right business. One should always focus on their own strengths and passion. However, be careful not to turn a hobby into a business as one’s own prejudices of the hobby can penalize the marketing strategy of the business. A good business is one that has a good fit, has the opportunity to grow, make plenty of money and is easy to explain to people. The resources are endless when considering the purchase of a business. The internet, business brokers, classified sections, attorneys, accountants, Chambers of Commerce but most of all people are the best resources.
Born in Canada in 1961, and based in Florida since 1996, Mr. Parker has been a business "junkie" since childhood, owning his first business at 12 and selling it profitably at 13. Learn more about Richard Parker at http://www.successinsiders.com/ , ask him questions and find out about how to attend his teleseminars.
SuccessInsiders.com is dedicated and committed to helping people succeed in their personal and business life by providing access to millionaires and experts in wealth creation and personal development through interviews and other resources. With this type of resource, proper application and dedication, the chance of being successful is increased. SuccessInsiders.com will provide the ultimate in training and discovery by providing a team of experts from which people can learn skills in prioritizing and glean information via teleconferences and monthly interviews. SuccessInsiders.com will do whatever it takes to assist anyone on achieving their goal. People from all over the world can benefit from these strategies. This is such a great opportunity for people to expand their horizons by way of modeling someone by reading their books, watching their teaching DVD’s, listening to interviews and much more.
“Today is Your Opportunity to Rise Up and Live the Life You Choose!” says Lance Hood. Pick up a free CD, “The Secrets of a Self Made Multi-Millionaire” http://www.successinsiders.com/home.html
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This Press Release has been submitted by PREasy.com
Research, Investment, Buying Business, Business Brokers, Chambers of Commerce, Making Money, Building Wealth, Business Skills
