BUYING AND SELLING A SMALL BUSINESS
An Entrepreneurial Strategy for Success

Author: Honigmann, Ernest J.

Review Date: NOVEMBER 01, 2007
Publisher: Monnet Press
Price (paperback): $75.00
Publication Date: December, 2007
ISBN (paperback): 978-0-9793579-0-9
Category: AUTHORS
Classification: NONFICTION

Comprehensive, all-inclusive guidebook to the ins and outs of navigating small-business negotiations.

Exasperated by the lack of available resources, educator and business broker Honigmann assumed the daunting task of penning his own entrepreneurship guide on the purchase and sale of a small business. Fifteen years later, his research has produced a dense, wholly indispensable, step-by-step volume brimming with everyday, case-in-point scenarios, graphs, charts and illustrations, much “like an engineer’s blueprint for shop workers.” Honigmann cautions that the marketplace for buying and selling is a dysfunctional one and, unlike the real-estate market, is rampant with unregulated and unlicensed brokers and dogged by “human condition,” i.e., emotions, hubris, life changes, secrecy, etc.). He explains why and how certain industry conditions exist—both good and bad—and presuming the climate is right with both sellers and buyers, the author goes on to provide constructive, step-by-step instructions on the actual purchase or sale of a business, including a lengthy chapter on the important role business brokers play in these delicate transactions. Honigmann stresses the importance of researching and financially appraising companies fully before expressing interest. He delves into the intricate negotiations of approaching a business for sale, banking standards (loans) and how to complete the deal. He also offers unique advice on acceptable behaviors one should exhibit throughout the entire process. In converting the often-complex business concepts (amortization, illiquidity, equity) of his subject matter into layman’s terminology, Honigmann provides a readily accessible environment for his reading audience (most importantly in the plentiful, real-life examples), be they amateur entrepreneurs or seasoned professionals. No concept or idea is left unexplored in this exhaustive work, and while the book may be overly meticulous for those just in the consideration phase of their deal, the author’s sage wisdom and smart strategies will prove invaluable for those ready for action.

A worthy investment for the serious businessperson.

www.kirkusdiscoveries.com

The Kurkus Discoveries Review appearing above was for the final version of Buying and Selling a Small Business, published in 2007. However, a preliminary version was published in 2001 by iUniverse. It was about 95% similar to the 2007 version. Its purpose was to hand out to business persons, and professionals such as lawyers and accountants, to obtain feedback and suggestions. It was reviewed by the publisher, its favorable review qualifying it for a higher ranking imprint.

SUMMARY OF MANUSCRIPT ACCEPTANCE REVIEW
FOR iUNIVERSE IMPRINT: WRITER’S SHOWCASE
5/10/01

The Basics
The author has done an exceptional job outlining this extensive guide for buying and selling small businesses. The story line is communicated quite clear. I applaud the author for providing us with such an eclectic mix of reference tools and tips on how to appraise, negotiate, finance, and close the deal. The manuscript contains tables and various real-life scenarios that will be of interest to anyone ready to deal with the market of buying and selling. This should be required reading!

Tone/Writing Style
The tone and writing style is quite clear and professional. The author does a terrific job tackling each point, and relaying business terms and concepts in an understandable manner.

Manuscript Mechanics
The manuscript looked great! The author has done a fine job editing.

Organization and Flow
The order seems to work quite well from chapter to chapter. The author begins with qualifications for ownership, one of the first steps to consider and ends with closing the sale. I can think of no better way to relay the messages at hand. I think some of the most interesting and informative examples are at the end where the reader can take a look at various scenarios that have taken place in the marketplace.

Audience Appeal
This book will appeal to the professional and to the novice. Anyone interested in buying or selling a business should buy this book. I found it to be an exceptional guidance tool and very interesting for some of the future endeavors I have.

Additional Comments
This is a fantastic collection. This should be required reading at universities around the country. This is by far the best how-to book I’ve reviewed for the Writer’s Showcase Program. I would encourage the author to talk with a wide variety of media to get the word out on this book. Congratulations on a job well done!