[alam555]

Background: I have been in IT for over 12 years, made over 200K last year working for someone else and have have had now finally enough. Done making other people rich. I have an MBA and have in the past started and managed my own consulting biz. Finally, while my wife and I have worked hard for all we have, we are of the adventurous kind. Status quo is never an option. We are new to BC and Canada. We just moved from the east coast US to vancouver because we would like better for our kids. Goal is to building something that is ours to keep 10 years from now.

My wife(who has experience working for magazine doing design work) and I are very seriously considering starting our own business. we like the concept of publishing business that we can run from home and grow overtime. i have experience with printing as well in a different lifetime.

questions:
We are thinking of buying a running publishing biz with decent subscription. How do we evaluate/validate worth?
Should we use a realtor to find a biz or a biz broker? How about using a CPA and/or lawyer?
Financing? We thinking of taking a loan against one of our properties to finance the purchase? Should we instead use a loan against the business? What are our options?

Is it best to talk to a professional consultant regarding all these questions and other mysteries of life instead of posting long neverending questions on forums?

thank you



I appreciate your feedback. thank you

[rogercbryan]

This is a great question... there are a few people on here who might be able to help you. This is not my industry so I won't directly comment on your idea. I do have to ask what type of planning have you done so far? Do you have financing or capital in place to move on a deal? Have you done any types of market studies to find which types of investments you should be looking for? I think these basic questions apply to anyone looking to purchase a business.

[jasaunders]

Originally Posted by alam555

questions:
We are thinking of buying a running publishing biz with decent subscription. How do we evaluate/validate worth?
Should we use a realtor to find a biz or a biz broker? How about using a CPA and/or lawyer?
Financing? We thinking of taking a loan against one of our properties to finance the purchase? Should we instead use a loan against the business? What are our options?

Is it best to talk to a professional consultant regarding all these questions and other mysteries of life instead of posting long neverending questions on forums?

thank you

You should receive assistance from an attorney and CPA when evaluating the business. An experienced CPA will definately be able to point out whether or not it may be a good investment.

You could use a business broker to find a business. You could also just browse newspapers, websites, and magazines for business for sale listings. One of the best methods for finding businesses for sale though is through lawyers and accounting firms. Accounting firms often have clients who are looking to sell their businesses. You may want to draft a letter about your interest in buying a publishing business and send it to several accounting firms in your area.

There are millions of options for financing the business. When buying an existing business, one major option to consider is receiving financing from the previous owner. This is pretty common and your CPA will be able to help you with this.

You will receive answers to your questions much more quickly and thoroughly if you use a consultant. If you just have a couple questions, feel free to ask at a forum. You can also find troves of information online from the SBA website, Entrepreneur Magazine, Inc. Magaine, Score, and other places.