How to Buy a Business

This is a simple, very quick read that covers all the basics. I read this as part of an MBA course on buying a small business at Babson College. The book's process and lessons were validated by every business owner and professor who spoke. The best thing about this book is that it gives a great understanding of the PROCESS for buying a business, recognizing that the tiny details of each deal will be unique. As a buyer, it's extremely helpful to feel comfortable that you know what's supposed to happen next. I augmented reading this book by calling and emailing different business brokers to discuss opportunities and listings they had; there was a whole other level of learning that took place through those conversations and meetings, but I think reading this book is the perfect first step. Finally, a clear, concise and meaty little book you can use!

I work every day acquiring companies and managing the companies we have acquired. We currently own 7 companies and have acquired approximately 15. This book in an excellent guide to starting life as an entrepreneurial business owner/acquiror. I still consult it whenever I'm considering going out on my own. Aside from reading this book, some other advice to any would be acquirors is to get good legal counsel and a good CPA if you aren't one yourself.

I knew I wanted to buy a business, but "Where do I start?" This book is an outstanding starting point! It is well-organized, thorough, and yet easy to understand--but not overly basic. It helped answer my questions of: "What skills do I need to hone in order to succeed?" "How much cash do I need and what price range can I realistically pursue?" "What professional contacts will I need?"...and on that note, it helps you toward being able to talk the legal and financial talk and know where to "keep an eye on" your professional advisors going forward. Thanks to this book as my outline, I now have an actionable plan. I believe I can really do this!

I found Joseph's book to be highly readable and well organized. Clearly it is directed at the novice business buyer, and presents only the basic material to get the novice started. However, he touches on all the important points in a business acquisition and covers the material well. Although somewhat dated (Publ. 1994), especially regarding business legal forms, it still provides the foundation for more in-depth reading and research. For the first time business buyer, this is the first book to read.

The information in this book is worth reading by anyone searching for a business to buy. Though it could use an update (it was originally published in 1993), the insights of the authors are thought-provoking and well-reasoned. You will find lots of good food for thought, here.It's got some weaknesses: tax info is outdated; a few topics seem irrelevant (like advice on buying a PC?!); and the templates for things like the Letter of Intent are bare-bones. But the strengths far outweigh the weaknesses. The commentary and wisdom of the authors (who have bought and sold companies) makes this book shine.If you're pursuing an acquisition of less than $1 million, this book will be invaluable. For those pursuing larger acquisitions, you too will find the info helpful, but hiring professional help will be a must!