There are several perks that come with the purchase of an existing business, beginning with already having an established team of employees, a location, and a solid customer base. While the purchaser is able to avoid the risks commonly associated with new business startups, he or she should still take the time to evaluate the financial performance of a business before moving forward. During this evaluation, the purchase should thoroughly review the following:
· Leases and contracts
· Certified financial records
· The employee files and their benefits
· Previous lawsuits
Business acquisitions vary wildly in size and scope, resulting in a potentially complicated process. It is imperative to hire an experienced lawyer as they can provide critical input throughout the process and give you a good idea of whether or not the acquisition will be successful or not. Our firm can anticipate the emergence of challenges so that problems can be solved proactively. We have numerous years of experience in dealing with purchase agreements in varying industries and we are able to deal with common issues that may arise during the structuring and negotiating process including:
· The setup of entities as necessary
· Purchase documentation and preparation
· Business organization and incorporation
· Purchase terms and conditions
· Contract and deal negotiation
By not having the proper legal representation and guidance, purchasing an existing business can quickly transition from a lucrative opportunity into a financial catastrophe. We will guide you through every step so that your business purchase is professionally and efficiently taken care of.