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.
There are a variety of steps involved in dissolving a business and it is important to know what they are and be familiar with each. The requirements may also vary by state so it is also important to be familiar with the requirements in your state and is a good idea to be familiar with business law generally.
Investors and entrepreneurs in the Baton Rouge area are often looking for new and different ways to access new markets and sources of funding. After all, one of the critical elements of keeping a business going is maintaining a broad pool of creditors and investors who are willing to take a risk on the person's business. Without having funding, a business is going to die quickly.
It's time to move forward and sell your small business. Many small businesses are built from the ground up, and while it can be a decision based on many factors, there are several means and situations that could dictate how the final sale of a small business is completed. Oftentimes, small businesses are bought by other small business owners or even a hopeful small business owner. Sometimes the capital these buyers need isn't readily available in total.
After shedding much blood, sweat and tears, you may be considering selling your business. Why might you want to do this? There can be many motivations behind the sale of a business, with profit being the most popular reason. However, there are several other reasons and motivations behind the sale of a business that one may not initially think of.
Large companies involved in processing and manufacturing often have several components to their business and supply chain that make it a successful and profitable business. It can be helpful to think of each component of these businesses -- often located in several locations -- as their own miniature business inside the larger frame. One such company sold one of their components that is headquartered in Baton Rouge to a Maryland-based company for over $400 million.
Whatever the reason behind the closing of your business doors, it requires more than simply 'closing up shop.' Much in the way that one must organize financial, legal and other aspects of a business when starting out, one must come full circle on these aspects when closing or dissolving a business. The closing of a business could be a happy time, or it could be a more tumultuous time related to a business' inability to make a profit over a prolonged period of time. Either way, there are requirements for any business closing its doors.
When it comes to labor liens, the details and laws vary by state since they are governed under state law. In Florida, a labor lien can have a huge impact on the sale of a property. Whether buying or selling, the involved party will want to know how a labor lien could impact the sale of the property in the short and long term. Many may be unfamiliar with what a labor lien is, so it's a good idea to cover the basics.
It's a known fact that many businesses fail. The business landscape can be a competitive and difficult place to grow and thrive. Sometimes, things happen outside the business' control that greatly impact its ability to be successful. However, failure is not the only reason to dissolve a small business.