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Forum name | Biz Ideas |
Topic subject | purchase existing small online businesses |
Topic URL | https://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=2178 |
2178, purchase existing small online businesses Posted by laurentroux42, Thu Mar-06-08 08:43 PM
Hi,
I am currently reviewing 3 small existing online businesses.
I have gotten some basic financial and operational information from two of the current owners and one broker who represents the third one.
These businesses are in three different industry sectors: seafood, brandless/logoless clothing and niche outdoor sport equiment/community.
I've gotten some preliminary advice from a CPA friend and an Internet lawyer friend.
I would like to get some additional advice/feedback on the following: - appropriate legal and accounting related due diligences - initial valuation & final price negotiation - tax benefits from owning LLCs to run these small online businesses - escrow and lawyer service related to the purchase process - PPC campaigns and SEO related costs
I am also trying to get a better idea for cashflows requirements for the first year to run these businesses AS IS and grow them further.
Any suggestion/templates/frameworks to use will be greatly appreciated.
Many thanks.
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2226, RE: purchase existing small online businesses Posted by jswank02, Fri Mar-14-08 04:12 AM
Be warned the financial information may be false. Tread very lightly and get a lawyer. Mosts Small business groups in every state has a free legal service. My mom almost got in trouble trying to buy a Curves franchise that the owner did not disclose.
As a side note I am starting my owner marketing consulting business and have a few slots left for the free plans I am offering which would include most of the items you listed.
Go to www.jswank.com Free Plans and let me know your thoughts or contact me at info@jswank.com
Thanks
Joanna Swank
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