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Buying an existing business can be an excellent way to become a business owner or to expand your present business. You can save time and effort of building a customer and supplier base. You may also avoid the trouble of locating equipment and hiring and training employees. However, you should abide by the Latin slogan which translates "Let the buyer beware." If you are not careful, acquiring an existing business can lead to disaster. (Poznak, 1998)Joe's Landscaping and Tree Trimming (Joe's) began as a small sole proprietorship. In efforts to expand and become a company that investors would be interested in, the company has entured into new commercial landscaping technological processes and restructured as a Limited iability Corporation...
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