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Articles by Richard K Parker

• How To Buy A Gas Station In Our Current Economy
  Back in the days when communities seemed to be more tightly knit, the local corner store was a focal point of any neighborhood. Now, as we all rely upon our car to get from point A to point B; the favored port of call for our occasional needs is a gas station and convenience store. As it seems that we are fueling our vehicles more often than ever before, it's easy to see why an entrepreneur would consider a gas station as a favorable investment.
  Published 30Oct2010, viewed 319 times

• How To Buy A Restaurant - Anticipate All The Problems
  Whenever you get ready to buy a business, your primary objective is to uncover any nasty surprises before the fact and not after. This is especially true when you consider buying a restaurant. This kind of business is one of the most popular, yet it has one of the highest records of failure. It makes additional sense, therefore, to make sure that you have uncovered all of the potential issues before you even think about opening the doors.
  Published 30Oct2010, viewed 157 times

• How To Buy An Internet Business - Thinking Outside The Box
  In an age where simplicity is the new byword and frugality is becoming cool, the idea of buying a business that does not have a lot of associated "baggage" is quite palatable these days. Do we really want to consider the purchase of a "bricks and mortar" operation with rent, liability insurance, staffing headaches, security issues and all manner of other problems? Or do we want to consider buying a website for sale and make life much simpler?
  Published 30Oct2010, viewed 174 times

• How To Buy A Liquor Store - Tougher Than Average But Greater Potential?
  Some people believe that buying a liquor store is akin to owning your own ATM, ready to pump out money to help you live the lifestyle of your dreams. A liquor store for sale can certainly be an attractive concept, but you have to run it like a very well oiled machine in order to survive. This is one of the most heavily regulated industries you could be in and has rather high operating costs, as well.
  Published 29Oct2010, viewed 422 times

• How Most Prospective Business Buyers Fail
  When it comes to buying a business for sale, do you know whether this is a buyer's market or a seller's market, right now? Do you know how to tell the difference between each? Is it important to buy when the market is approaching its peak, or when there are likely to be plenty of "bargains" around for you to pick and choose from? Can you approach the purchase of a business in the same way as you might approach a purchase on the stock market?
  Published 27Oct2010, viewed 176 times

• Stealthy And Secretive - The Only Way To Buy A Business
  As we learned in school or college, doing your homework can make the difference between success and failure. When it comes to buying a business for sale, the amount of research that you do before you make contact with anybody on a formal basis is probably the most important part of the entire process.
  Published 25Oct2010, viewed 159 times

• The Impressive Art Of Reading Between The Lines
  In the majority of cases, you need to be a real "people person" if you want to succeed as an entrepreneur. If you own or run a business, you need to be able to interact with people of all shapes and sizes, personality types and origins, if you are to do well in the cutthroat business world of today.
  Published 25Oct2010, viewed 278 times

• How To Buy A Business For Sale - Your Due Diligence Checklist
  Most people understand that they will need to conduct a process known as "due diligence" when they are getting ready to buy a business. They may have heard that this is a vitally important step in the process, yet they may think that they should delegate it to their accountant. They may feel that they can trust the accountant to inform them of anything untoward and deal with these matters at that time.
  Published 25Oct2010, viewed 463 times

• Sustainability - How To Buy An Internet Business For Sale.
  When we hear reference to the word "sustainability" in business terms, it often refers to the company's ability to manage its energy use, contain its carbon emissions and generally act as a good neighbor within society as a whole. We can unveil a whole new interpretation of the word, however, when it comes to the concept of buying an Internet business for sale.
  Published 30Aug2010, viewed 636 times

• The Small Details Count - How To Buy A Gas Station And Convenience Store Business
  There was a time when the purchase of a gas station and convenience store combination was a very palatable opportunity for entrepreneurs everywhere. This was a time when the price of gas was very low and hardly of consequence to the average American consumer.
  Published 30Aug2010, viewed 279 times

• Look In The Mirror First - How To Buy A Restaurant For Sale.
  Prepare to take stock of exactly who you are, if you're considering the purchase of a restaurant for sale. This will require you to stare intently into the mirror, to determine if you have what it takes to become a successful restaurateur.
  Published 30Aug2010, viewed 223 times

• Cheers - How To Buy A Liquor Store Creatively!
  It almost goes without saying that an entrepreneur has to be creative, as without the ability to think on your feet, make reasoned, pressurized decisions and to move with the times, the entrepreneur would barely survive, let alone have any chance of prosperity. As such, whenever it becomes time to buy a business already in existence, it should be viewed with a creative mind.
  Published 29Aug2010, viewed 421 times

• Communicate And Decipher - How To Buy A Business For Sale.
  An entrepreneur has to be able to take on a wide variety of roles as he or she develops and masters the art of running a business. While the entrepreneur may well have other people working for and within the business, our understanding of every process is nevertheless important. In short, you must know the business "inside and out," in order to have the best chance of success.
  Published 27Aug2010, viewed 148 times

• Don't Go It Alone - How To Buy A Business For Sale.
  As people begin to wonder about the long-term viability of the stock market and question whether they should really classify their home as the most significant part of their retirement portfolio, they may begin to look at alternatives. For the more adventurous would-be investor, the purchase of a business for sale represents an intriguing possibility.
  Published 27Aug2010, viewed 142 times

• Be Diligent - Buying A Business With Your Eyes Open!
  You wouldn't expect to buy a car without first checking it out, would you? When you buy a vehicle, it's commonly referred to as one of your "big ticket" purchases and something that requires quite a bit of thought and application. It goes without saying, therefore, that you should "look underneath the hood," whenever you're thinking of buying a business from somebody else.
  Published 27Aug2010, viewed 182 times

• How To Buy An Incredibly Profitable Business For Sale
  Many people have been prompted to consider their options during the recent financial downturn, as in many cases it has become clear that you can no longer rely on so-called "bed rock" establishments to provide you with a career through to retirement. Some people have even been prompted to consider what retirement actually is, as they have seen their hard earned savings disintegrate during the great recession.
  Published 26Aug2010, viewed 147 times

• Benchmarks For Buying A Business For Sale
  Buying a business for sale is a multistep process and each step is important. Many times you may not proceed to the next position until you complete the preceding step and you should never be tempted to shortcut the process at all. Adequate preparation and time spent revealing everything there is to know about the business will be well spent here and will help to ensure that no horror stories are uncovered once you take the helm.
  Published 10Mar2010, viewed 256 times

• How To Buy A Real World Business For Sale
  Some enterprising individuals are put off by the thought of buying an existing business for sale, as they see it as a veritable leap into the dark. If they have never been involved in such a transaction before, it can seem to be very alien. After all, it is not like buying a more tangible product like a vehicle or a house, where in many respects "what you see is what you get."
  Published 10Mar2010, viewed 277 times

• How To Buy A Business For Sale With Due Diligence
  To buy business assets can be a daunting prospect, especially if you have not done this before. While it may be somewhat easier than establishing your own operation from scratch, understand that you are taking on, in many respects, the liabilities of somebody who is a complete stranger to you.
  Published 10Mar2010, viewed 261 times

• Entrepreneurs Guide To Buying A Business For Sale
  Many who advocate self-employment are adamant that there is no other way to achieve financial freedom or to enjoy that real feeling of independence. Running a business gives you the opportunity to dictate the amount you earn and prepare for your future adequately. Proponents agree, however, that it is a significant challenge and that there are, of course, no guarantees!
  Published 09Mar2010, viewed 298 times

• How To Buy A Top Notch Liquor Store
  Buying a business of any kind involves a complex set of metrics due to the dynamic nature of the purchase. The business is composed of a series of tangible and intangible elements and while there are certain benchmarks, often quoted by those seeking to sell at a favorable price, each situation is very different.
  Published 08Mar2010, viewed 307 times

• How To Buy A Truly Successful Restaurant
  The food and beverage industry has always been one of the most attractive for the would-be entrepreneur. When we consider fundamentals, something that each one of us must purchase to survive, food and drink of course comes at the top of the list. While this may be the case, there are many complex issues to consider before you buy a business involving an existing restaurant and it's important to remember that less than one in 10 purchases succeed.
  Published 08Mar2010, viewed 328 times

• How To Buy A Great Gas Station Convenience Store
  Over the years, a gas station has been seen as a reliable investment, most especially when the price of gasoline was relatively stable and by world standards was seen as low in the United States. Not so long ago there seemed to be little pressure to cut back on oil sales or to cut down on our energy use and carbon emissions due to global warming.
  Published 08Mar2010, viewed 742 times

• How To Buy A Profitable Website Business
  Entrepreneurs often fret when it comes to the calculated value and whether to buy a business for sale. Numerous intangibles can often be involved and these can "muddy the waters" when it comes to arriving at a true value. It is possible to "number crunch" all the financials, pay some attention to benchmarks and get input from industry experts and is often possible to value freehold or leasehold assets, inventory and generally kick the tires.
  Published 07Mar2010, viewed 300 times

• How to Find Out the Real Numbers of a Business For Sale
  When a prospective buyer is trying to establish whether he or she will buy a particular business operation, there are many elements to consider. When prospects arise, quite apart from the question of suitability, location and longevity, the issue of real-world business valuation is front and center. The seller will present financial documents and it is, of course, in their best interests to portray the business for sale in a shining light.
  Published 20Dec2009, viewed 247 times

• How to Value a Liquor Store For Sale
  A liquor store can be one of the most attractive prospects for those who are seeking to enter the world of entrepreneurialism. Traditionally they are seen as purveyors of "essentials," with good turnover and reasonable margins. However, considering a liquor store valuation can be quite difficult. The industry is somewhat reliant on antiquated barometers and the owner may try to offer you the business based on traditions rather than real elements.
  Published 18Dec2009, viewed 520 times

• How to Value a Gas Station For Sale
  The process of gas station valuation can be a tricky business. Quite apart from the question of how you approach the actual valuation itself, you have many variables to take into account including principally whether the property is leased or owned and whether it is owned or part of a franchise agreement with a major oil company, for example. Above all else, remember to conduct a proper process of due diligence.
  Published 17Dec2009, viewed 390 times

• Conduct Due Diligence When Buying a Restaurant
  Everybody has to eat to survive and over time we have developed this necessity into a process of socializing. As such, a restaurant is one of the most popular businesses and one which may represent an even more attractive purchase proposition if you have a particular taste for a certain type of food!
  Published 13Dec2009, viewed 404 times

• Exercise Due Diligence When Buying an Internet Business
  The process of due diligence is essential when buying a website internet business operation. It is estimated that up to 50% of all deals can fall apart during this process and this is most often due to some misrepresentations during the initial discovery, but can also often be due to an inadequate assessment by the buyer, leading to cold feet.
  Published 15Dec2009, viewed 199 times

• Due Diligence When Buying a Liquor Store
  The process of due diligence goes way beyond just an assessment of the presented financials. You need to be able to access all the files and records, review information and research personnel as you review what you're being told. It is recommended that you allocate at least four weeks for this process and do not be tempted to rush to judgment. Some issues may only come to light over a period of time and thus you should proceed carefully.
  Published 11Dec2009, viewed 380 times

• How to Conduct Due Diligence When Buying a Gas Station
  A gas station for sale can represent a very dynamic business opportunity for an entrepreneur. More than ever in this particular type of business, location is everything. You may have found what you consider to be a "gem," near two major arteries or close to a busy intersection, but never be tempted to jump in with both feet first until you have conducted an adequate process of due diligence.
  Published 10Dec2009, viewed 497 times

• Buying a Wholesale Distribution Business
  Buying a wholesale distribution business requires a complete understanding of the associated industry, the methods required to make this particular business "tick" and an understanding of the main income drivers. Such an entity is very different to a traditional service business and can be far more complicated than it may seem from the outset. In short, it is far more than a question of establishing a volume of repetition.
  Published 08Dec2009, viewed 189 times

• Live Virtually: How to Buy an Internet Business
  You have to love the online business model, as it is surely ideal. You can set up a business with little or no inventory, no receivables and just a few employees. Every element of the operation can be outsourced - even customer support, and you don't even need any technical expertise to get started.
  Published 11Sep2009, viewed 577 times

• Make Your Gas Station into a Spinning Money Machine
  You have a thirst for information when you are in the process of buying a gas station or a convenience store and have plenty of questions to ask. You want to be sure that when you take ownership, the business is turning a profit from day one. Don't just settle for that scenario however - here are six strategies to turn your new purchase into a money machine, fast.
  Published 09Sep2009, viewed 404 times

• Your Gas Station or Convenience Store can Compete with the Big Boys!
  When you buy a gas station or convenience store, don't just settle down and expect to blend in to the business landscape and get clients just because "you are there". Don't rely on the status quo and expect customers to come and go on a daily basis. You need to employ some aggressive marketing techniques to help you compete and defeat all your competitors, even the supposedly dominant oil company owned stations.
  Published 07Sep2009, viewed 375 times

• Location, Location, Location - Don't Hide your Gas Station
  In real estate we are told that location is everything. You need to know the most profitable location for your gas station or convenience store. Is it right next to a major highway, close to a mall or elsewhere?
  Published 05Sep2009, viewed 274 times

• Your Gas Station Should be a Crime Free Zone
  If you came across an advertisement for a gas station that promoted a high-traffic location next to a major interstate, with easy "on and off", making strong profits throughout its 24 hour daily schedule, you would probably think that this is a great business to purchase. Unfortunately, it is also a good prospect for a crook. Just imagine - he or she could pull off the interstate in the middle of the night, rob the gas station and disappear.
  Published 02Sep2009, viewed 297 times

• Bargain Shopper: How to Buy a Store in a Mall
  A shopping mall typically represents a good concentration of shoppers within a productive environment. As such the thought of buying a store in a mall can be very enticing. By the law of averages, a certain number of all those shoppers are bound to come into your store, right? Before you go ahead and consider your options it is good to weigh some important considerations.
  Published 30Aug2009, viewed 468 times

• Consider These Tips when Buying a Restaurant
  The restaurant business can be very volatile and this will often be reflected in the number of restaurants available for sale at any one time. As the failure rate can be so staggering you need to get to the bottom of the reasons behind the sale and conclude whether you will be successful as the new owner.
  Published 28Aug2009, viewed 291 times

• Drink Up! - How to Buy a Liquor Store
  A liquor store is one of the more common sights within a retail landscape and they are often a valued component of your neighborhood strip mall. Most believe that a liquor store represents a solid business and is less prone to recession. Note that there are quite a lot of factors to take into consideration when buying a liquor store and you must bear in mind that in most cases this is not a good "hands-off" business.
  Published 26Aug2009, viewed 1800 times

• Why Buy An Existing Business Versus A Start Up
  There are many advantages to buying a business that already exists rather than looking to own a business that you start from scratch. Here is a look at some things to consider when debating whether to buy a business over a start-up enterprise.
  Published 15Aug2009, viewed 355 times

• When Buying a Business, Choose Your Attorney and Accountant With Critical Care.
  Buying a business can be one of the most important decisions you'll ever make. Choosing the right advisors to help you make a buying decision can be equally as challenging. Some people have suggested that selecting the right attorney and accountant can be as consequential as choosing the right bride! When you buy a business, don't take shortcuts and make sure that you have the right team of professionals on your side.
  Published 13Aug2009, viewed 327 times

• What You Should Do After Buying A Business
  So you have completed your due diligence, talked to all your advisers and professional consultants, taken all the steps necessary to value a business, lined up your financing and taken the plunge. What should you do with your new baby to ensure that you get through the critical stage of transition and make sure that you survive and prosper?
  Published 10Aug2009, viewed 424 times

• What To Look For When Buying A Retail Business
  There are so many factors involved when buying a business it could make your head spin. This is especially true when you are negotiating to own a business in the retail sector. Make sure that you do not leave any stone unturned and give yourself the very best shot at success in this highly competitive environment.
  Published 08Aug2009, viewed 624 times

• What is the right business for you?
  You will have a long list of questions when you are looking into the possibility of buying a business. You might already think that this list of questions represents a daunting enough proposition, but extra attention at this phase will help you select the enterprise that is right for you and give you the best chance of becoming one of those relatively rare people who actually become successful business owners.
  Published 06Aug2009, viewed 274 times

• Is it a good time to buy a business?
  If you have an entrepreneurial itch or have always wanted to buy a business, is now the right time for you to act? In the current severe economic downturn, your first reaction might be negative, but note that wherever there is a threat, there is an opportunity and that many people have become very successful in times of seemingly dire economic news.
  Published 03Aug2009, viewed 391 times

• Buying An Internet Business
  While it's natural to consider the traditional brick and mortar business when considering buying a business, an Internet business should also be part of your purchase business decision. The right Internet business holds a great deal of potential without much of the costs associated with having a storefront.
  Published 01Aug2009, viewed 928 times

• Instead Of A New Franchise, Buy A Successful Resale Franchise
  When buying a business, there are many business for sale opportunities available, including buying a successful resale franchise. When you buy a business that is already profitable, you reap many advantages over buying a new franchise that has no track record in a new location.
  Published 30Jul2009, viewed 327 times

• Why It May Be A Great Time To Buy A Business
  Despite a slumping economy, low sales, high unemployment and a banking crisis, this actually might be a good time to consider buying a business. The reason is quite simple: it's a buyer's market, which means the environment is ideal to own a business.
  Published 18Jul2009, viewed 255 times

• The One Thing You Need To Know When Buying A Business
  The one thing, in one word, that you need to know when buying a business is PREPARATION. That eleven letter word is so powerful because it is what separates a successful buyer of a business from the rest. It is preparation that allows business buyers to hop on good opportunities when they come around. They know a good thing when they see it because they follow well defined preparation steps.
  Published 16Jul2009, viewed 352 times

• Due Diligence When Buying A Business
  Just what is due diligence and why is due diligence when buying a business so important? Due diligence is actually the most crucial part of any buying transaction. It is the period when you will have complete access to all company files and records as a final step to analyze the business and uncover any potential problems.
  Published 13Jul2009, viewed 424 times

• How To Value A Business
  If you're looking to buy a business, it's important to know its value so you can determine a fair purchase price. Keep in mind that the buy business asking price set by the seller is probably far from what the business is actually worth. That's why it's necessary for you to conduct a business valuation to determine its true value.
  Published 12Jul2009, viewed 966 times

• Should a Convenience Store Be Part of the Gas Station You're Buying?
  Several decades ago, a gas station was a gas station, and a convenience store was a convenience store. If someone had predicted back then that these two very different businesses would join in holy matrimony and become a fixture on America's highways and byways, I wouldn't have believed them.
  Published 06Jul2009, viewed 978 times

• Franchise or Independent: Five Critical Questions to Ask Before You Buy a Gas Station
  If you're thinking of buying a gas station, good idea! But should you buy a franchise or an independent? To make sure you're making the wisest choice, spend some time considering in-depth answers to questions like these:
  Published 05Jul2009, viewed 372 times

• Six Ways to Turn a Liquor Store into a Money Machine
  In my many years of helping people buy businesses, I have noticed something interesting about people who are selling their liquor stores. They're usually suffering from extreme burnout! If you tour a number of liquor stores that are for sale, you'll discover what I mean. This can spell opportunity just for you, a smart buyer.
  Published 29Jun2009, viewed 659 times

• Why a Liquor Store Can Be the Most Recession-Proof Business of All
  Are you looking for a business that won't be adversely affected by current economic troubles? Of course you are! So, allow me to share one piece of advice with you. Buy a liquor store. Liquor stores are extremely recession-proof, perhaps more than any other type of retail business.
  Published 28Jun2009, viewed 324 times

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