Instead of starting from scratch, many entrepreneurs choose to buy an existing business. Maybe this business is already successful and profitable, or maybe it is an opportunity for the owner to turn the business around. Regardless, buying an existing business is a popular choice for entrepreneurs.
Many challenges arise when searching for or going through with a business purchase. Business owners looking to sell their companies must decide on the most advantageous structure for the sale, including whether it will be sold as assets or shares. Buyers and sellers both must negotiate the terms of the sale, representations and warranties, and other schedules in the purchase agreement.
Many prospective purchasers know they want to be business owners, but have trouble finding a business to buy with a willing seller. Fortunately, the attorneys at Erie Business Law work with both prospective buyers and prospective sellers and can help make connections between the two.
If you are interested in buying or selling a business but are either facing difficulties in finding a business to buy or having trouble with different aspects of the sale, Erie Business Law can work with you to ensure a smooth transition. Our attorneys have advised business people on both sides of the transaction and can help clients around pitfalls towards the best options.
Want to learn more about the benefits and challenges of buying or selling a business? Contact us today.