Business owners have to deal with conflict not only in their duties as entrepreneurs, but also in their personal capacities. While the two spheres of their lives are often kept separate, they sometimes collide with violent force. When this happens, Louisiana residents need to make sure they are able to enter into business agreements that protect their best interest as fully as possible under the circumstances.
Before agreeing to sell your business, there are certain things you need to take into consideration. If you don't carefully assess a number of factors, then you may wind up feeling financially cheated when the matter is finalized. We hope that this post will help provide some guidance with regard to those considerations, but if you are seeking legal assistance, then you need to think about contacting an experienced business law attorney.
Although most business owners put in the time, money, and effort to start a new enterprise with the intention of staying with it for the long-term, circumstances may dictate whether that is actually the best option. Declining sales, decreased demand, or simply a desire to leave the industry can justify the sale of a business. That may sound like a simple enough endeavor, but to reach a fair deal, a business owner needs to make sure he or she is proceeding with thorough, up-to-date information and guidance.
The decision to sell a business is not one to be made lightly. After all, a lot of hard work goes into building, maintaining, and running a business. This can create emotional attachment in some instances, while others find themselves so frustrated with a business that they hope they can quickly shed it.
When most people think about entrepreneurship, they think of starting a business from the ground up. This requires having an idea and building upon that idea until it becomes a viable business opportunity.
It's no secret that businesses come and go. While some can thrive for decades or even generations, others are forced to close operations much sooner than anticipated. While this can be a heart-wrenching time for business owners, they need to make sure that they dissolve their businesses in a legally sufficient way. Otherwise, they may wind up with even bigger headaches down the road.
One flashy, headline-grabbing way for a company to get investment capital is to go public with an initial public offering. Many companies have done this to great success. Lately, however, many small companies see the drawbacks of the IPO and are hesitant to use it to attract capital for business operations, the launching of products, and the fueling of research and development. Many small businesses in Louisiana may instead benefit from an alternative that has become increasingly popular among small businesses. That alternative is the reverse merger.
Purchasing and selling a property can be a complex process with many resources available for buyers and sellers. A Baton Rouge office building recently sold to a local investor for $1.1 million. A Baton Rouge investment company recently sold the office building to a dentist and the corporation for which the dentist is the sole member. The 5,600 square foot office building was built in the early 1990s. A representative for the seller noted that the building was extensively remodeled in the past few years. A civil engineering firm leases the building and recently accepted the option to continue to lease the building.
The purchase or sell of a business is a big step but legal resources are available to help at every phase along the way. An auto dealership in Baton Rouge was recently purchased and has since been rebranded. The auto dealership, including the land, was recently purchased for $4.7 million. The business that was purchased is now operating under a new name which is the name of the business that purchased it. The dealer-operator of the new business reported that all 66 employees of the purchased auto dealership were retained in the sale of the business.
The decision to sell a business may be a tough one, or it may be a relatively easy one. In either case, once a business owner in Louisiana has decided that selling the business is what is best, they may have questions about how to approach the sale and how to sell their business. It is always helpful to have a plan for selling your business.