Chapter 6

Exploring Buying a Business

In This Chapter

Understanding good reasons to buy a small business

Figuring out when you shouldn’t go the purchase route

Identifying what you need to be successful with an existing business

After a business has been created, it can have a life of its own. The umbilical cord to its creator can be cut, and the business can pass onto various owners. In some cases, a great small business can outlive its original owners — assuming, of course, that subsequent owners have the necessary entrepreneurial and management skills.

In this chapter, we tell you the reasons why you should buy a business, but we also steer you clear when your personality and resources don’t make purchasing a good match.