Selling a business influences include:

1. Holidays or life events: The Christmas celebration, or a milestone birthday of a seller, are examples of occasions that either can speed up or slow down the selling process. Holidays and other diversions that involve family events, often interrupt the marketing effort or delay scheduling the completion of an agreement. But sometimes the reverse is true. An owner who wants to sell by the end of the year, or before his daughter graduates from college, will be motivated to push for quick negotiations, a short due diligence period and a closing date scheduled ASAP.

2. Job market: Corporate downsizing in a community almost certainly will put demand pressures on the local selling a business market. While most people out of work seek employment elsewhere, there are entrepreneurs among the newly unemployed who plan to buy a business for sale.

3. Financing availability: The recent financial meltdown offers a clear case study of how a shortage of funds from lenders can negatively impact the demand for small and mid-sized businesses. The slowdown in volume of businesses changing hands in late 2009 and through much of 2010 was a direct result of the shortage of money needed to complete transactions. Loosening of the purse strings in the past few months has resulted in a more robust business sales environment.

4. Stock market and investments: When faced with alternatives, investors put their money where they expect the best combination of high return and low risk. But these motivations don’t always result in the same behaviors. A booming stock market influences some entrepreneurs to divert excess funds into corporate equities. For others, it’s a chance to profit by selling current investments and–encouraged by the more positive economic outlook–to enter the business for sale marketplace.

5. Real estate equity: The decline in home values and the pressures it put on the economy during the past three years influenced many would-be business buyers to “watch and wait.” When entrepreneurs had substantial home equity they were far more tempted to use their resulting borrowing power to purchase a small business for sale. As equity disappeared however, individuals not only had less financial ability to make a business purchase, they also became less positive about their chances of success owning a company in a troubled economy.

6. Consumer sentiment/confidence: For the most part, someone considering the purchase of a small or mid-market business will delay moving forward on that idea when polls show that most people are worried about the economy. That’s not the time to get into a retail company or even most business-to-business enterprises. For bargain-hunters in the business for sale marketplace however, a decline in consumer confidence signals the possible opportunity to acquire a sound business at a “distressed” price.

7. Businesses for sale supply: Like any demand and supply dynamic, the availability of good businesses for sale strongly influences the market, the prices, and the likelihood of finding a buyer. During a healthy economy when business owners enjoy strong profitability, business buyers find it more difficult to find a desirable company for sale and to get sellers in agreement on prices that can easily be paid off. It’s often the predictions of a sagging business climate that motivates more owners to quickly implement their exist strategies.

8. World events: Much like the stock market that reacts to news about changes to the political landscape and natural disasters, the market of small businesses for sale can be influenced by major events–even those events well outside of the business world. A retail business owner, for example, may delay her plans to sell if she concludes that a natural disaster in a nearby community will hurt the marketability of her enterprise for a while.

While it’s important to look at the profitability and pricing of a business for sale to determine the chances that a buyer will be found in a short period of time, there are key external factors that can determine the likely success of someone selling a business.

The easy part is knowing some of the factors that can influence the marketplace for small and mid-sized businesses. The hard part is understanding which factors have the most influence at any one time, and exactly how each affects the marketplace. Some business owners do report, incidentally, that by following the BizBen Index and collecting ideas and information from the BizBen Blog pages, they are able to gain insights about how various factors might impact their plans for selling a business.

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about how to purchase a business for sale California opportunity, or the selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

The SBA ordinarily does not directly loan money to businesses. Its role is to guarantee a substantial portion of each SBA-qualifying loan made by a participating bank, provided, of course, the borrower’s application complies with the SBA requirements.

To get the green light, the request for small business purchase financing from an SBA-backed lender should include:

1. A logical business purpose: That means, for example, that a request for a loan to buy a company that is over-priced is not likely to be approved. Nor is an application involving purchase of a company–even at a low price–that does not seem to have good prospects for future success.

2. Sufficient collateral to secure the loan partially or in full: The lender will usually require a lien against the assets of the business, including any equipment, furniture and fixtures, and inventory. In many cases, the bank looks to additional buyer assets to further secure the obligation. That can involve other business assets, even equity in the borrower’s real property.

3. Solid financial performance by the business to be purchased: Balance sheets, profit and loss statements, receivables and payables accounts ledgers, and bank statements, all going back at least three years, represent the minimum amount of paperwork that should be provided. If the business has recently been impacted by the slowed economy but has a long history of success, it might be useful to provide information on business results going back five to seven years.

4. Financials of borrower: In addition to the data needed on the company, the proposed lenders want to see the balance sheet, and the income and expense ledgers for the individual (or individuals) requesting the loan. A credit check will certainly be conducted, and borrowers will need to have good credit records in order to be considered for the requested funds.

5. Experience of borrower/buyer: Older rules that were followed in the years before the mortgage meltdown often allowed an individual with general business experience to buy a company in an unfamiliar industry, and then get quickly up-to-speed on the particulars of the business. Most bankers using SBA loan programs won’t follow that logic. Newer SBA rules expect that someone requesting small business purchase loans will be able to demonstrate, with his or her resume, specific experience needed to operate the business successfully.

6. Business plan: Another way for the borrower to show he or she can successfully manage the target company is by providing a plan to operate the business. It should include specific strategies for building up the enterprise, increasing revenues and boosting profits. A marketing plan should also be included. And the budget projections included in the plan need to clearly describe how the borrower expects to generate enough money from the business on a consistent basis to make the loan payments.

While it’s easier for California entrepreneurs to secure small business purchase loans than it was a couple of years ago–at least the money is available–it takes some know-how, and a considerable amount of work, to raise money with a successful loan application for one of the SBA loan programs.

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about how to purchase a business for sale California opportunity, or the selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

1. ESOP: The business owner with several employees and a few years to plan ahead before selling might consider the idea of developing an Employee Stock Option Program. Usually set up by an attorney and administered by a bank, an ESOP enables the employees to have some of their wages and salaries set aside into a fund that will be used to buy out the owner at a specified date in the future–usually five years or more. Among the advantages is that the seller doesn’t worry about having to market the company, the buyers are knowledgeable about the business, and there’s no question about how to raise the money for the purchase. As they will own the company one day, employees in this arrangement should be counseled to agree on the rights and responsibilities in the newly-purchased business long before it actually changes hands.

2. All in the family: The tradition of a retiring owner turning the company over to children, grandchildren, or nieces and nephews is barely practiced anymore, as those in the younger generation rarely have an interest in their family’s business. Until recently. It now appears to be gaining popularity as a method for selling a business, as younger people currently trying to join the labor force are finding that good jobs are not as easy to get as they were just a few years ago. The solution might be for one or more family members to buy out an older relative and take over a business. In some cases it’s not a good idea to mix business into family relations. The result can be harmful to connections between relatives. But if all of the details of the deal are spelled out in a contract, and the parties agree beforehand not to let business problems interfere with familial relationships (sometimes easier said than done), keeping the enterprise in the family might be a good way to solve the father’s desire to sell, and the need of the children to find work.

3. Outplacement organization: The job of helping laid off employees find new work is often assigned to outplacement companies or outplacement departments in companies that are terminating some of their employees. And although the focus is usually on matching those in the job market with openings in other organizations, there’s no reason that the more enterprising of the people seeking employment can’t be introduced to promising business opportunities. This plan for selling a business with help from an outplacement office involves providing a packet of information about the business and terms of the sale to those who counsel newly-unemployed. No, self-employment isn’t for everyone, but it is an option for those looking for a job. And outplacement professionals can be a good resource of potential buyers.

Selling a business isn’t always just a matter of calling the broker or running an ad and waiting for the phone to ring. These less common strategies can work well for the right seller.

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about how to purchase a business for sale California opportunity, or the selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

The main items that should go into that checklist are:

1. Getting personally prepared: This includes putting together a buyer profile, including financial statement, description of what you want, and a resume summarizing your work experience. These documents demonstrate you are a “real” buyer, deserving of cooperation from sellers, business brokers, and agents. The information is personal, of course, and should only be shown to sellers who have a business you might want, or brokers whom you believe are honest and professional. Willingness to be upfront about your interests and capabilities will immediately separate you from the majority of people searching for business opportunities but, for one reason or another, will never complete a purchase. Another preparation strategy is to apply for an SBA-backed loan pre-qualification. Buyers who do this find out how much money they will have to work with, and can gain a competitive advantage over buyers who look for a business first, and go searching for money second.

2. Organizing a team: The purchaser who has a lawyer and accountant listed on his or her buying a business checklist will be in a position to move quickly once an interesting business is found. This means of course that the professionals are ready to be of service–the lawyer helping with language in the contracts and protecting you from problems, the accountant to help value a business and conduct due diligence. While other buyers interested in a particular business are trying to find the professional help they’ll need to proceed, the entrepreneur who has taken care of that step will be able to move more quickly than competing purchasers.

3. Cast a wide net. The more businesses you’re aware of, the better the chances of encountering just the right offering in a short period of time. That means working with more than one broker, answering for sale by owner ads, even posting a business wanted to buy request.

4. Respect the sellers’ requests for confidentiality. And be ready to sign a non-disclosure agreement. Showing that you are honest and “above board” will earn the cooperation of sellers. And without that, it’s nearly impossible to buy a business.

5. Try for a win-win in negotiations with someone whose business you’d like to buy. The purchaser who wants to beat a seller in the price and terms aspects of a deal, might find he’s taken “round one” but then when extra help is needed–a bit longer to pay off the note or advice about some confusing aspect of running the company–the seller will be unwilling to accommodate.

6. Pay attention to the details when a transaction is in escrow. After all the work and excitement as you come to the end of the buying a business checklist, it’s a shame to lose a deal over some issue that might have been avoided had you noticed a developing problem and taken action right away. Make certain the escrow holder is competent and is doing everything that was promised.

Buying a small business is not rocket science, but it can be rather complicated and detailed. Make sure to be fully prepared, and that includes making up a buying a business checklist before you answer the first business for sale ad!

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about how to purchase a business for sale California opportunity, or the selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

1. Seller financing is the most popular and perhaps the most effective way to buy a business opportunity with borrowed funds. The typical method is for the buyer to sign a promissory note to the seller for the amount carried back, specifying the collateral to be used–usually capital assets of the business, the term of the note and the interest rate charged.

2. Bank or business lender assistance. While more difficult to borrow than funds from the seller, purchase money loans from lending institutions are becoming more available thanks to the Small Business Administration loan programs. The SBA guarantees a large portion of the amounts provided by the agency’s approved lenders to small business owners and buyers. The entrepreneur wishing to purchase a business with SBA loan financing needs to include a considerable amount of paperwork in the loan application. And there are strict rules about qualifying for money under an SBA loan program.

3. Vendor assistance: When seeking lending help from others, it often is a good idea to look in the company’s payables file and to call on the any listed vendors–those firms supplying products and services to the business being sold. With the incentive that they can continue selling to the company under its new ownership, the vendors are asked to permit the business buyer to assume those debts. With this kind of agreement in place, the seller won’t need as much cash at close of escrow to clear business debts, because those obligations will be assumed by the buyer. The net result, of course, is a decrease in the cash needed by the buyer at close of escrow.

4. Inventory on consignment. A business buyer can hold on to the cash often needed to purchase inventory from the seller at close of escrow if the seller agrees to retain ownership of inventory and provide it to the business buyer on consignment. This agreement usually specifies that the person agreeing to purchase a business inventory in this manner will pay the seller for the items as they are sold to customers by the new owner.

5. Earn out agreement. This kind of provision in a contract to purchase a business for sale California opportunity, is usually designed to bridge the gap between buyer and seller when they can’t agree on the value of the business. But it also is a good way for the buyer to obtain extra financing. The basics of the strategy is for the price established at close of escrow to be lower than the seller would like to collect, resulting in a smaller down payment from the buyer. Then, assuming that the business produces satisfactory revenue and profit results in the months after close of escrow, the price of the business actually will increase according to a price/performance formula agreed on by both parties beforehand. The added value is expressed as a hike in the value of the company, and an increase in payments is made by the buyer on the promissory note to the seller.

The entrepreneur who wants to purchase a business with limited cash can often achieve that objective using these strategies if he or she is willing to do the extra work and is able to get the cooperation from the parties involved.

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about how to purchase a business for sale California opportunity, or the selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

1. Prepare the business more completely. Along with the mood of extreme buyer caution in this market, comes a lower threshold of tolerance for companies being sold that are not presented in the best possible way. That means a seller needs to assemble key documents–three years of financial information, copies of premises and equipment leases, and a list of capital assets included in the sale–before the business is offered to prospective buyers. It’s not a good idea to wait until a buyer is found and requests that material. By the time you get your act together, it may be too late.

Preparation also calls for making certain that business premises are clean so that it shows well, getting all equipment working correctly, and settling any unresolved lawsuits or customer complaints that might reflect negatively on the business.

2. Super preparation is also advised. In addition to getting the basics taken care of, entrepreneurs who know how to sell a business in this economic climate are going to the trouble of contacting local business banks, particularly the SBA-backed lending institutions, to get the business “pre-qualified” for a loan. If lenders say they are willing to lend money for purchase of your business by a qualified applicant, it speeds the SBA loan application process and helps to reinforce the value of the company being offered.

Another form of super-preparation involves drafting a marketing plan that, when shown to prospective buyers, provides a blueprint a new owner might follow to increase the revenues. And the company that comes with a marketing plan is more appealing, because it demonstrates the competence of management–reflecting favorably on the viability of the business.

3. Be prepared to help finance the transaction. Several sellers in this market who initially wanted an all-cash deal, have discovered that a business not attracting much attention can quickly become more appealing to buyers if the seller is willing to carry back part of the purchase price. And the owner with few buyer prospects for a company offered with a small seller financing component, say 10%, is likely to find that increasing the size of the note–to 30% of the price for example–is how to sell a business that was not generating much interest. Seller financing can result in a sale to a qualified buyer–one who was not ready or not willing to invest the total purchase price plus the working capital needed to take over the business. Also, a seller’s willingness to help finance the deal can be the factor that persuades other lenders to participate. In most cases, for example, an application for purchase funds through an SBA loan program has little chance of being approved if the seller does not have “skin in the game.”

4. Incorporate an earn out agreement in the sale. This approach often is useful in bridging the gap when a buyer and seller have different estimates of what the business is worth. The basic idea of this strategy is for the initial sales price to be a figure below what is requested by a seller, who feels the business is improving and will soon be worth more. In return for the seller’s agreement with the lower price, the buyer agrees that the business can be re-valued upward, if it does generate higher revenues as predicted by the seller. This provision is founded on a deal with some seller financing, and the contract specifies that the buyer’s payments would be adjusted upward to correspond with the increased value.

These suggestions for how to sell a business in 2011 have been employed by owners who were successful at selling over the past several months, while other entrepreneurs who’ve had their businesses on the market for some time, still are trying to find a qualified buyer and make a deal.

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about the buying or selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

That was his lesson in the importance of making an offer.

The assumption that the seller will be offended and refuse to deal further–that was the erroneous idea in Eric’s mind–is just one of the reasons that the majority of prospective buyers of small California businesses never get around to making offers on businesses, even companies that interest them and meet their criteria.

In fact, our studies indicate that 80% of people who say they want to purchase a small business in California never actually complete a deal. Most of those don’t even–in the words of one business broker: “pull the trigger” on a business they’ve been investigating.

And considering that sellers and their brokers spend most of their time with people who are not serious, it’s no wonder that sellers are in no hurry to supply information requested by buyer prospects, and that brokers aren’t always good about returning “buyer” phone calls.

TO BE TAKEN SERIOUSLY

Want to get their attention?

If a business interests you, if you can see yourself as the owner of the company you’ve been looking at, the next step is to make an offer. Put it in writing.

Buyers who sign a purchase/sale proposal and hand over a deposit check distinguish themselves, immediately, as “real” buyers. By stating your intent to buy a company according to certain terms, even if those terms don’t match those requested by the seller, you elevate yourself above the crowd, joining the 20% of the buyer prospects with whom brokers and sellers of small California businesses want to be engaged.

Making an offer shows you are serious. And it means you’ll be taken seriously in the marketplace of businesses for sale.

BREAK THE ICE

Reviewing the details of a business for sale listing is helpful, as it informs buyer prospects about what the seller has stated regarding what he or she wants in a deal. But that’s all. Is the seller more interested in total selling price or cash up front? Is there flexibility regarding seller financing? How firm is the seller about the way the purchase price is allocated among various assets?

A buyer prospect can speculate about these matters and discuss them with the business broker at great length. But the way to find out exactly where the seller stands on these issues is to “break the ice” by making an offer, getting the “dialogue” started and, perhaps, getting the seller’s agreement or counter-offer.

It may take some courage to actually sign on the dotted line and hand over a deposit check. As one buyer puts it: “You suddenly realize that if the seller says ‘yes’ to what you offered, you may have bought yourself a business. It’s a little scary.”

The good news is that it gets easier.

Over the six months following his disappointing experience, Eric made offers on four other bars that were for sale.

The first three offers were not successful, as Eric and the sellers were not able to come to agreement. But he felt that nothing was lost by trying, and as a result of these efforts, Eric became much more comfortable with the process of making an offer and negotiating terms.

The fourth time he made an offer on a bar, Eric knew just what he wanted to ask for, and he knew how to interpret the counteroffer. And after a bit of negotiating, he and the seller came to an agreement.

Eric likes his new business and is glad he learned to overcome his initial fears and make an offer.

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about the buying or selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

In order to keep these commitments brokers must require each buyer to maintain confidentiality. This means that buyers agree not to do anything that would let anyone know that the business is for sale or let anyone learn any of the information about the business that they discover in the process of examining it. The only exception is that buyers may inform their advisors, such as attorneys and accountants, in order that they may assist in the process.

These professional advisors must first commit to maintain confidentiality. This is a very serious commitment as the business may be harmed if confidentiality is violated, and the person who breaches the confidentiality commitment may be liable for damages.

To maintain confidentiality all communications must be strictly between the buyer and the seller and/or his agent, i.e. the buyer agrees not to contact the business owner, its employees, vendors, landlord, accountant, neighbors or especially customers. Buyers agree to visit only when they make an appointment approved by the owner. Buyers must agree not to discuss the sale with friends or coworkers – it is a very small world!

When touring a business be sure not to speak in front of employees or bring any confidential materials provided by the seller or an agent to the business premises. Employees have found confidential business summaries on the tables in restaurants for sale after a buyer – seller meeting!

What can happen if confidentiality is breached? Here are some things that have happened:

• Primary vendors put the business on COD terms causing a major financial crisis for the owner.

• Half of the employees quit in a panic because someone started a rumor that the new owner was going to fire everyone (never true, but employees don’t know that) – rather than wait to be fired, they sought and found new jobs. The owner was unable to operate the business profitably.

• Competitors have used the fact that the owner was selling to sell against the business, pointing out to prospective customers that any guarantees would be worthless after the sale (not true, but scares customers and may influence their purchase decisions).

• Employees found the offering information left behind by a prospective buyer. When they learned how profitable the business was, they demanded pay increases from the owner!

• The word got around inadvertently to employees, who started stealing large quantities of cash and merchandise, thinking that the owner would be gone before he discovered it.

The world is sometimes a very small place. The theory of networking says that each of us is separated from any other human being by no more than five degrees of separation. If you speak about the sale in front of strangers, one of the people who overhears may turn out to be the spouse of a key employee in the business, or a vendor. So pretend you work for the CIA and that all of the information about the business – including the fact that it is for sale – is mission critical, top secret information!

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about the buying or selling a business process please feel free to phone Peter Siegel at: 866-270-6278.

The population of buyers for small California businesses has grown dramatically over recent months, with corporate layoffs releasing thousands of business-savvy people into the market for companies they can buy and manage. A well-run organization with a history of profitability, in a business that doesn’t require advanced university degrees to understand and operate, is exactly what these buyers want.

This is a good trend from the standpoint of owners of full-line vending route companies who are ready to sell.

PROPER PREPARATION

The mistake often made by sellers in this business is to think that because theirs is a popular category among prospective buyers, they need only announce the company is for sale and watch the offers come in. By not preparing a vending business to look its best–in terms of its assets and its financial performance–a seller may not realize the best available price and terms.

And no “extreme makeover” is called for. It is a good idea, however, to take care of some of those adjustments that have been put off–changes that will improve profitability and ease of operation.  That includes the slightly stressful work of analyzing the route patterns and delivery schedules to see if driver time–and hence payroll cost–could be used more efficiently.

One vendor was able to combine route “portions” into a program that required two-and-a-half routes rather than four. He’d put it off, not wanting to lay off a driver who’d been with him a long time, but the resulting changes substantially reduced his costs, boosting profitability and resulting in a significant increase in the prices proposed for his business, compared to what was offered prior to the change.

Another important move is to eliminate locations that yield marginal profitability, so equipment can be placed in more productive locations and route drivers can avoid the “break even” or loser stops. Naturally it’s critical to continue to serve under-performing locations if they are satellite facilities of large clients that provide more profitable vending stops.

A look at the inventory being sold is next. It’s surprising how many vendors carry items way past their expiration dates. Perhaps the customers don’t notice, and don’t care. But prospective business buyers are on the lookout for little hints that the prospective purchase candidate is not worth the asking price. It’s foolish to lose a deal or a substantial amount of money that might have been offered over small issues such as out-of-date merchandise.

ORGANIZED PRESENTATION

Most business brokers know how to prepare a “route report” for review by qualified buyers. Sellers who don’t have the benefit of that service should know it’s an easy document to put together, and should list clients by number, instead of name, with their vend locations designated with alphanumeric code, i.e.: Location A, Location B, and so forth.  Then the type of machines is listed, along with the month-to-month collections from each.

Also organized should be the protocol for revealing information to prospective buyers. The route report, even in its coded format, should be seen only by buyers who have been qualified, and have signed a non-disclosure form. The request to “ride the route” should be granted only to a buyer with whom the seller is in contract, with a contingency being the buyer’s right to cancel the sale if not satisfied with due diligent inspection of business records and/or a visit to some of the locations. Seller’s condition should be satisfactory review of buyer’s financial capability.

PRICING

The standard rule of thumb, that a vending company is worth 50% of annual gross revenue plus wholesale value of equipment and inventory, continues to be followed, with the understanding that a company using the latest “hardware,” such as owned machines able to take debit or “value” cards as well as cash, may yield up to a 10% premium. A lower value might be the “right price” if the buyer will need to institute changes needed to improve the company’s profitability.

It may take a month or two to get a full-line vending company ready for sale, but getting a top-tier price makes the effort worthwhile.

See all vending routes for sale on BizBen.com

About The Author: Peter Siegel, MBA, is a SCORE Counselor specializing in consulting those selling or buying a small business. He is the Founder of BizBen.com – Businesses For Sale In California and has written three books on how to buy & sell small businesses. If you have questions about the buying or selling a business process please feel free to phone Peter Siegel at: 866-270-6278.