Buying or Selling a Business

Business Purchase & Sale - Southfield Business, Corporate Lawyers | Fakhouri Law Group - buying1

Buying a business could be one of the most important decisions you will ever have to make.

Our business attorneys and professionals have the expertise required to properly advise you on how to negotiate, prepare, structure, manage and handle all proper due diligence in your business purchase.

In purchasing an existing business, it is imperative to know why the seller is selling the business. It is important to know what market and economic considerations exist. You should also ensure that you are aware of the caveats of the industry and be careful to evaluate whether your specific needs and goals can be met.

Business Purchase & Sale - Southfield Business, Corporate Lawyers | Fakhouri Law Group - negotiation1Negotiating the Price of Sale

Whether you are a business owner looking to sell your business, or a buyer looking to buy a new business, it is instrumental in knowing the “worth” of the business. At Fakhouri Law Group, we assist business buyers and sellers in assessing the value using various assessment approaches that are best suited depending on the business. We also pride ourselves with being thorough in our analysis by working with experienced appraisers, brokers, accountants and other professionals in our price considerations.

Business Purchase & Sale - Southfield Business, Corporate Lawyers | Fakhouri Law Group - diligence0Do Your Due Diligence!

It is imperative for a buyer or a seller to do their due diligence before buying or selling a business. What assets, tangible or intangible, are involved? Are their existing debt issues that are going to be assumed or have to be resolved before the transaction occurs? What existing vendor, lease and/or employment contracts are there? There are many relevant areas of investigation that must be scrutinized including, financial, legal, labor, tax, technology, market licensing and insurance.

It is important that a thorough analysis of the financial books and records are conducted. This helps the buyer and seller properly assess the business situation and expose potential risks. Most importantly, it helps the represented client make an informed decision about the purchase or sale of the business.

Important questions a buyer should ask are:

  • Is it better to buy a franchise or an independent business?
  • Should I buy an existing business or start a new one? What are the pros and cons of each?
  • Should I buy the business assets or purchase the owner’s stock or membership interest?
  • What liabilities am I assuming?

Let our business attorneys help you evaluate the purchase or sale of your business. Contact us today - our consultation is absolutely free.