Buying a business can be a challenging process with many factors to consider. To help you become better prepared to buy your own business, Thompson Rivers University in partnership with key industry stakeholders have gathered information and developed a series of case studies and learning activities, and put them all together into a trio of Buyer section modules.
Please, feel free to work through the Buyers section at your own pace. We recommend that you follow the order of the material as it is presented; however, you are free to jump to other sections of this resource if there are certain areas of more interest to you.
The buyer’s case study provides excellent examples of the ups and downs of business succession and provide valuable insight for overcoming barriers. You can also access this resource at any time from top menu.
The Buyer’s section of the resource contains three complementary modules and case study. You will see some overlap between the Buyer and Seller sections; however, each trio of modules is specifically targeted to its own audience.
Buyer Modules
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Preparing to Purchase a Business
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- Overview
- Self-Assessment for Entrepreneurs
- Growth Potential
- Assessing the Current Labour Force
- Forecasting Future Labour Market Availability
- Business Market Share
- Change of Ownership
- Summary of Preparing to Purchase a Business
- References
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Preparing for Ownership
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- Overview
- Understanding Shareholder Agreements
- Defining Goals and Priorities
- Understanding Human Resource Responsibilities
- Strategies for Recruitment and Retention
- Supervisory and Leadership Skills
- Working with Others
- Strategic Competency Model
- Forecasting Future Skill Requirements
- Understanding Best Practices
- Summary of Preparing for Ownership
- References
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Preparing to Transfer Working Knowledge
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- Overview
- Setting up the Communication Path
- Develop a Timeline for the Transfer of Ownership
- Assessing Employee Skills
- Building a Strategy to Overcome Challenges
- Succession Leadership Development Plan
- Retirement Development Retention Plan
- Facilitating Relationships between Experienced and Inexperienced Workers
- Knowledge and Skill Building
- Buyer Summary
- References
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[callaction url=”http://shift.trubox.ca/wp-content/uploads/sites/30/2015/02/SHIFT_Buyers_section_print.pdf” target=”_blank” background_color=”#337294″ text_color=”#ffffff” button_text=”Download PDF” button_background_color=”#81a844″ button_text_color=”#ffffff!important”]If you would prefer to view the Buyer material offline you can download a copy in PDF format.[/callaction]
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Image Credits:
- StartupStockPhotos. (2015). Pixabay. Entrepreneur, startup, start-up, man, planning, business. Retrieved from http://pixabay.com/en/entrepreneur-startup-start-up-man-593358/License: CC0 Public Domain / FAQ
- Russell James Smith. (22, March 2010). Flat White Coffee. Retrieved from https://www.flickr.com/photos/russelljsmith/4675028010 [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Flickr
- Matthew Clark. (n.d.) Retrieved from https://unsplash.imgix.net/reserve/tlC8KhNJR0CA2xdomLfx_DSC_0358-2.jpg?fit=crop&fm=jpg&h=650&q=75&w=950 . Creative Commons Zero