I’ve had a few people ask me what is involved with buying a small business such as mine so I decided to set up this page with the basic steps:

1. Start with a conversation with me to get an idea of what is involved with owning and running the shop. It has been in business for 65 years.

2. If you’re still interested, get the Profit & Loss Statements plus Tax Information from me for the past three years minimum. Have someone good with numbers (accountant, CPA, business broker) look them over and give you a clear understanding of the financial picture and perceived value of the business.

3. Put together an offer and we can negotiate, if need be.

4. If we agree on an offer, you’ll want to create an LLC (Limited Liability Corporation). This legally separates your business from you personally from any legal issues. You can do this online or with a lawyer.

5. Part of the deal would most likely have me working for you for an allotted amount of time to help you get up to speed running the shop.

6. If you have any questions about this, please feel free to call me.