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.
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.