Many of us would relish the opportunity to be our own boss. And that thinking has made many at least consider the thought of buying their own business. But it’s risky - not to mention a bit scary, too. What industry do you focus on? And where do you look to find potential business opportunities? How about a good bargain? After all, wouldn’t it be nice to pay a fraction of the cost of a start-up?

Our featured guest in this Episode of The Small Business Trends Radio is John L. Herman Jr., Founder of Hermanisms.com. Herman is recognized as an expert in the sale of financially troubled companies and he’s sharing his insider tips on how to buy a business at a bargain with us.

Topics include:

• Half of most businesses are “under water”? — Yes, more than 60% of operating businesses are financially drowning. Yikes! So what’s the best way to acquire these businesses? Surprisingly, Herman says all you have to do is ask. Many owners may already be looking for a way out.

• Do bankers really love buyers with cash? — Not surprisingly. . .yes, they do. And they will help apply the pressure to the seller to accept a low offer to get their hands on it.

Herman is also an Author and has been kind enough to provide us with complimentary copies of: Hermanisms - Axioms for Business and Life, pictured here.

If you are considering purchasing your own business, you will want to click on the red and yellow player below to listen to Herman’s full interview.

Listen Now:

 How to Buy A Business At A Bargain [22:49m]: Play Now | Play in Popup | Download

Posted by Staci Wood | | Permalink

1. Very interesting info about the advantages of purchasing an already established business. It sounds difficult to go into a floundering business and offer a fair price. On the other hand, for a business owner about to lose everything it must be a relief to have someone take it off of your hands.

   Can’t wait to check out the contest. It sounds like a fun little adventure.

   Comment by Amanda — 3/1/2008 @ 11:00 am

2. I can relate how it could be in a financially tough situation. I look forward to listen to the full interview.

   Comment by Martin Lindeskog — 3/4/2008 @ 7:01 pm

3. I went over to Herman’s site and read some of his “Hermanisms” over there. They’re funny, insightful and quite interesting. The other book he’s written looks like a good book too.

   Comment by Chris — 3/5/2008 @ 9:44 am

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