Tapmaster Hoboken LLC is telling the whole thing about, how much can you afford to start a Business. Tapmaster Hoboken LLC is a respected restaurant firm in Hoboken, New Jersey.

1. How much can you afford to
start a Business?
Tapmaster Hoboken llc

2. Be your own boss
Many, many, people dream of owning their own
business - but few actually realise that dream.
If you’re one of the few, this PowerPoint will
highlight some of the issues surrounding the
initial start-up, with the main focus being on
acquiring a going concern.

3. Buy or Create?
So you want your own business. There are two
basic choices – buy an existing one, or start up
your own.
This PowerPoint focuses on the first option,
acquiring a going concern.

4. The plus side
Provided you act with diligence, in buying an
existing business you have the comfort of knowing
the idea behind the business has been proven.
Also, if the business has survived its first two years
it’s arguably got over the ‘danger’ time, when most
new businesses fail.

5. Immediate Cash Flow
An established business should be generating a
continuous, steady, cash flow.
The amount of capital required to see you
through the start-up period is more definable
than is the case with a new business.

6. Loans & Finance
Raising money to start a business is notoriously
difficult.
For an existing business however, raising capital
can be more straightforward as there is a track
record with supporting information.

7. Customers & Suppliers
An established business will have established
customers – even a hot dog stand has it’s regulars!
The same goes for suppliers, you will not have to
waste valuable time hunting around for the right
suppliers.

8. Growth Potential
How big will your business grow? Past accounts
and reports will at least give you an indication of
what to expect from the future.
Forecasting is important not only for expansion,
but for simply staying in business.

9. What Type of Business?
This is a question only you can answer. It will
depend on your skills, background, experience,
interest and hobbies.
Do choose something you have some knowledge
of though, then go and find out more!

10. Finding your business
Newspapers are a good source of businesses for
sale, as are special interest magazines.
Of course there’s always the direct approach too.
Find the business you’re interested in and ask the
owner if he’s considered selling.

11. How much can you afford?
Are you going to sink your own money into this
business? Banks usually like to see some
‘commitment’ from you, but there are other
options available too.
Don’t forget you still have to live! Your business
must generate enough money for you to survive.

12. Finance
Without doubt the biggest sticking point for most
people. Options include:
 Bank loans
 Asset Sale
 Investors
 Credit cards

13. Bank Loans
Only ever get a loan from a reputable company,
now matter how much easier other sources seem.
Local Councils often run small business clubs,
and other members are a good source of advice
on which banks to approach.

14. Asset Sale
You could consider selling part of the business -
a building say - to a friend then have them lease it
back to you.
Just make sure you have an agreement covering
the lease in writing in case your friendship should
sour!

15. Investors
Generally more appropriate for a new business
start-up, but it is possible to obtain investors for
an existing business.
Be cautious about involving family members as
investors.

16. Credit cards
Yes, but only with extreme care!
Ensure the balance is paid off in full, every
month, as interest payments can soon spiral out
of control.

17. Pitfalls
Pitfalls to watch out for:
 Undisclosed debts
 Overstated profits
 Overvalued stock
 Debtors who can’t/won’t pay

18. Dodging the Pitfalls
Most importantly, use a lawyer experienced in
business acquisition to guide you through the
buying process.
Also hire an accountant to investigate the
businesses books.

19. Check out
 Why the seller wants to sell
 All debts you are taking on
 Any shareholders that exist
 Assets and stock
 All contracts for concealed liabilities

20. Conclusion
Obtaining your own business is a lot of hard
work and stress.
Thoroughly researched and attentively done
however, striking out on your own is sure to bring
a great deal of satisfaction and hopefully,
financial success!

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Business Resource Ltd.
Members may download these Power points and re-brand and
amend provided the following attribution is stated at the end.
“This Powerpoint has been sourced from Small Business Resource
Ltd.”

22. As such, the contents should not be relied upon and
professional advice should be taken in specific cases.
In addition, none of the content of this PowerPoint or
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Business Resource Ltd
PowerPoint Content

23. Thank You