Steve Strauss, founder of www.theselfemployed.com, explains the concept of seller financing and how/when it may work for buying a business.
Q: I have been offered a chance to buy a business and the owner is willing to finance part of the purchase. What I mean is that I cannot afford the $50K he is asking but he said he would be willing finance half the cost over 5 years if I could come up with the other half -- $25,000. It seems too good to be true. Is it?
Robin
About the Author
Steven D. Strauss is a lawyer and writer and is one of the country's leading experts on small business as well as an international business speaker. The best-selling author of 17 books, his latest is the all-new 3rd ed. of The Small Business Bible. You can listen to his weekly podcast, Small Business Success Powered by Greatland, visit his new website for the self-employed, TheSelfEmployed, follow him on Twitter, and "like" TheSelfEmployed on Facebook. You can e-mail Steve at: sstrauss@mrallbiz.com. © Steven D. Strauss
The New England Independent Booksellers Association couldn’t have chosen better timing for the workshop on “Planning Your Bookstore’s Next Chapter,” just one day after nine-year-old Porter Square Books in Cambridge, Mass., announced that was putting itself up for sale. Close to 40 booksellers attended the workshop led by Donna Paz Kaufman and Mark Kaufman of Paz & Associates at the Biltmore Hotel in Providence, R.I., on March 12.
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