Plain English first
We introduce the technical term after the idea makes sense.
Acquisition QuestLearn before the deal gets expensive
Open calculatorACQUISITION QUEST LEARNING CENTER
Learn how to look at a business before you decide to buy it.
If you are trying to figure out how to buy a business for the first time, start here. Learn the process and the numbers in plain English, with a healthy amount of skepticism nearby. You do not need an MBA. You do need better questions.
Claims show their work
Important facts are sourced and dated. Seller claims are labeled as seller claims.
No magic green light
The goal is a better next question—not a mysterious score telling you what to buy.
THE CURRICULUM
Begin at the beginning—or go straight to the question keeping you up.
The recommended path builds one idea at a time. The impatient path is also allowed.
LEARNING CHECKPOINT
Start Here
Understand the buying process before the acronyms begin multiplying.
LEARNING CHECKPOINT
Understand the Numbers
Learn what the listing numbers mean, what they leave out, and what deserves proof.
01
LESSON
4 min →02What Is SDE? The Number Business Listings Love to Brag About
What is SDE when buying a business?
LESSON
5 min →03Which SDE Add-Backs Should a Buyer Trust?
Which SDE add-backs are legitimate?
LESSON
4 min →04What Is an SDE Multiple—and What Multiple Should You Pay?
What SDE multiple should I pay for a business?
LESSON
4 min →What Is DSCR? The Debt-Payment Cushion Behind the Acronym
What is DSCR when buying a business?
LEARNING CHECKPOINT
Structure the Purchase
See how price becomes cash, debt, seller financing, and obligations after closing.
LEARNING CHECKPOINT
Investigate the Business
Turn an interesting listing into better questions, then learn what deserves proof.
01
LESSON
7 min →02You Found a Business for Sale. What Do You Ask Next?
What should I ask when I find a business for sale?
LESSON
5 min →03What Should You Request Before Spending Money on Due Diligence?
What documents should I request before buying a business?
LESSON
7 min →Buying a Business From a Retiring Owner
What should I check before buying a business from a retiring owner?
LEARNING CHECKPOINT
Practice on a Deal
Use the first screen on the kinds of listings that make new buyers stop scrolling.
BUYING GUIDES
Explore all 16 business types →Different businesses hide risk in different places.
Once the numbers make sense, examine the records and operating questions that matter for the kind of business you are considering.
BUSINESS-TYPE GUIDECar wash
A car wash is an operating business tied tightly to its land, equipment, utility bills, and traffic.
See what deserves a closer look →BUSINESS-TYPE GUIDELaundromatReported revenue deserves extra verification in a cash-heavy operation, while the lease, machines, and utility efficiency can determine whether the economics last.
See what deserves a closer look →BUSINESS-TYPE GUIDESelf-storage facilitySelf-storage can look wonderfully simple from the road. The real business lives in collected rent, unit mix, local supply, property condition, and whether the operation still works after the seller hands over the gate code.
See what deserves a closer look →BUSINESS-TYPE GUIDEBar or neighborhood tavernA bar can look like a simple cash-and-card business until the license, lease, labor, inventory control, and seller's relationship with the regulars enter the room.
See what deserves a closer look →Learning Center lessons are educational, not legal, tax, accounting, lending, valuation, or investment advice. Acquisition Quest completes an editorial and source review before publication; independent professional review is never implied unless it actually occurred. We do not change a reviewed date unless somebody reviews the facts.
Read our story and editorial standards →