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Owners often neglect understanding their leases and this can be problematic. If your business is location-sensitive, then the status of your lease could be of paramount importance. Restaurants and retail businesses, for example, are usually location-dependent and need to pay special attention to their leases. But with that stated, every business should understand in detail […]
Having a letter of intent signed by both the buyer and the seller when selling a business can be a very good feeling. Everything can seem as though it is moving along just fine, but the due diligence process must still be completed. It is during due diligence that a seller decides whether he or […]
Buying or selling a business is one of the most important decisions that most people ever make. Before jumping in, there are several points that should be taken into consideration. Let’s take a moment to examine some of the key points involved in buying or selling a business. Factor #1 – What are You Selling? […]
The simple fact is that family businesses are different. After all, a family business means working with family and all the good and bad that comes with it. While an estimated 80% to 90% of all businesses are family owned, relatively few are properly planning for what happens when it comes time to sell a […]
The old saying that “there is no replacement for experience” is a truism that has stood the test of time. The simple fact is that a lack of experience or expertise can dismantle your deal. Consider the following scenario – a business owner nearing retirement owns a multi-location operation that is doing several million in […]
Not everyone wants to sell a business when they feel as though they have to sell. Life changes, such as divorce or illness, can trigger the sale of a business. Everything from declining business revenue to partnership problems and more can send business owners scrambling for the exit sign. However, selling your company isn’t always […]
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