Transferring Contracts When Selling a Business

When selling a business, often a key component is the contracts to which the company is a party. They may be contracts with customers, which include the company's revenue, contracts with vendors, or various licensing agreements that allow the company to operate. It could involve a lease for a particularly favorable location or on particularly [...]

By | 2021-03-01T12:40:20-05:00 March 1st, 2021|Blogs|Comments Off on Transferring Contracts When Selling a Business

Lease Implications When Selling Your Business

For many business owners, the idea of selling their business may seem inconceivable. It may seem so distant they do not even consider the significance of negotiating a new lease. However, a business’s leased premises can be one of its most important assets. Can you negotiate a lease with the landlord while selling your business?  [...]

By | 2021-02-01T10:25:03-05:00 February 1st, 2021|Blogs|Comments Off on Lease Implications When Selling Your Business

Excess Concentration Risk When Selling Your Business

Diversification is a well-known strategy for minimizing risk in investments. It’s what you should be doing with investments outside of your business. It is also inside the investment you’ve made in private equity, namely, your business. Use the law of diversification within your business to fortify and protect the business. This will reduce the risk [...]

By | 2021-01-04T13:25:21-05:00 January 4th, 2021|Blogs|Comments Off on Excess Concentration Risk When Selling Your Business

Negotiations and Nitpicking During the Sale of a Business

Details, details, details. When you’re negotiating the sale of a business, everyone comes to the table with their own details—what they want and don’t want, what they need and don’t need, and their own strategies and expectations. Negotiating the sale of your business can involve everything from price to employees to branding to intellectual property [...]

By | 2020-12-02T09:57:01-05:00 December 2nd, 2020|Blogs|Comments Off on Negotiations and Nitpicking During the Sale of a Business

Why Credibility Is Important When Selling Your Business

It is imperative that you maintain the trust of the person who is interested in buying your business. The last thing you want to do during negotiations when selling your business is to lose credibility with the buyer, otherwise, it’s most likely that your deal will go up in smoke. Buyers come to the table [...]

By | 2020-10-26T10:00:22-05:00 October 26th, 2020|Blogs|Comments Off on Why Credibility Is Important When Selling Your Business

The Importance of Pre-Qualifying Potential Buyers For the Sale of Your Business

As a business owner, it can be very exciting when a potential buyer inquires about your business for sale. This may happen when your business isn’t even on the market. Although there may be many aspiring business owners in the community, many of them will never be business owners. They may not have the skills, [...]

By | 2020-11-12T13:46:06-05:00 September 24th, 2020|Blogs|Comments Off on The Importance of Pre-Qualifying Potential Buyers For the Sale of Your Business

Why Due Diligence is Required When Selling Your Business

Congratulations! You’ve just received a Letter of Intent from a prospective buyer for your business. Try to contain your level of excitement because, when that Letter of Intent arrives, you still have a lot of work to do before you sell your business and the deal closes. From here to closing, expect another 90 to [...]

By | 2020-10-08T10:13:29-05:00 July 23rd, 2020|Blogs|Comments Off on Why Due Diligence is Required When Selling Your Business

5 Ways to Improve Your Business During the Age of COVID-19

During this challenging time, our priorities remain with our families and communities.  However, if you are a small business owner, there are many things you can do to think about how you can move your business forward. We’ve put together 5 ways to use this time to your advantage: Accounting/Finance. Clean up your books. Your [...]

By | 2020-05-07T09:12:35-05:00 May 7th, 2020|Blogs|Comments Off on 5 Ways to Improve Your Business During the Age of COVID-19

Update on SBA Paycheck Protection Plan

The Small Business Administration (“SBA”), in consultation with the Treasury Department, released Frequently Asked Questions (“FAQs”) designed to address borrower and lender questions around the implementation of the Paycheck Protection Program (the “PPP”) under the CARES Act.  The FAQs indicate that borrowers and lenders may rely on this document as the SBA’s interpretation of the [...]

By | 2020-04-09T10:03:41-05:00 April 9th, 2020|Blogs|Comments Off on Update on SBA Paycheck Protection Plan

Four Reasons Why Selling Your Business Should be Kept Confidential

Sure, you're excited about possibly selling your business and moving on to a larger project or simply retiring. It's easy to get excited about the large payout in the offing. But revealing too much too soon can put the deal, and your business itself, in jeopardy. When the time comes to sell your business, just [...]

By | 2020-03-11T10:03:50-05:00 March 11th, 2020|Blogs|Comments Off on Four Reasons Why Selling Your Business Should be Kept Confidential
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