Buying and Selling a Business

 In News

Have you ever wondered about buying an existing business or selling your own business? How would this work? What do I need to do? Here are a few things to consider:

Buying a business

  • Is the business I am looking at worth buying?
  • Am I buying the assets of the business or am I buying shares of a corporation? What is the difference?
  • Am I able to finance this purchase and if so how much will a bank loan me?
  • Is there enough cash flow in the business to make the debt payments?
  • Should I be consulting a lawyer?

Selling a business

  • What is the value of my business?
  • If I am not incorporated should I be incorporating before I sell?
  • Should I be selling the assets of the business or should I be selling shares of a corporation?
  • What if the buyer does not want to pay me everything up front?
  • Will there be a tax cost when I sell?

If you have asked yourself, any of these questions please contact us for a consultation. The aspects surrounding buying and selling a business can be complicated and time consuming. The use of a professional is a must.