Buying and Selling a Business in Colorado
According to Business Insider, Colorado is ranked the first in the country in economic growth. Besides leading our nation in economic growth, our state's business growth continues to expand. We've also seen some of the highest numbers in out-of-state citizens moving to our colorful state.
Recovering from a recession and terrible housing market, many unemployed Coloradans created their own businesses. The legalization of marijuana in our state also led to several business opportunities for our citizens.
We, at Gantenbein Law Firm are huge believers in owning your own business. Whether you want to purchase or sell a business, you've come to the right place. We regularly assist clients in structuring and closing purchases and sales of a variety of small or closely held business enterprises including both asset and equity interest acquisitions. We want to ensure you succeed and our attorneys are here to provide cost-effective, detail-oriented counsel in all matters involving business purchases, selling, succession, and dissolution.
Buying a Business
Rather than starting a business, you may want to buy an existing or franchise business. You need an air-tight plan to maximize a successful and profitable transition. Issues to consider when buying a business include:
the current revenue of the business you are looking to purchase
additional start-up costs, if any
the cost of buying an existing business, versus the cost of starting your own business
licensing and permits
business financial statements and past tax returns of the business
existing contracts, and whether those contracts are transferable in the event of a new owner
any past business liabilities
any business restructuring
Having a business attorney handle all the legal aspects of your business purchase, as well as all your tax planning and document review for your new business pruchase, ensures your acquisition goes smoothly. Gantenbein Law Firm's Denver business attorney is experienced and efficient at all that goes into the purchase of a business.
If you need an experienced business attorney to help guide you through every step of buying or selling a business in Colorado, contact our Denver business attorney immediately. 303-618-2122.
Selling a Business
The process of selling your business is complex and needs expert preparation to get the maximum return on your investment. The buyer most probably has his own team to investigate a business before buying - you should have your own team as well to ensure successful negotiating and structuring a successful sale. Items to consider before listing your business are:
• make sure your books are in order
• have accurate Return on Assets (ROA) for prospective buyer
• have proper cash flow analysis for prospective buyer
• have an excellent exit strategy in place
• correct any unresolved issues from company ownership to clear and lawful patents/trademarks
• have an accurate business evaluation of worth and future valuation
• ensure buyer you are not a single-failure point, have key replacement or consulting options laid out
• consider options and alternatives to an outright sale
• have value of intangible goodwill documented
• have an expert attorney to negotiate the best deal and to maximize proceeds from the sale.
Our Denver business attorney can expertly assist with with all areas of selling your business, including:
Selling your professional practice: Lawyers, doctors, cpas and other professionally licensed individuals can opt to sell their business or client list. Our business attorney will ensure the process goes smoothly.
Cashing out of your business: You want the sale of your business to be profitable. You can sell your business, sell the business' assets, or sell shares of your business. Meeting with an business attorney will ensure you are pursuing the correct route.
Selling a Franchise: If your business is growing rapidly, you may be interested in franchising opportunites. An experienced business law attorney will ensure compliance with state and federal francising laws, provide expert tax planning and ensure the proper business structuring for your expanded business. Our business attorney also provides legal services in the purchase of francise businesses.
If you are looking to buy a business in Colorado, or sell a business in Colorado, contact our Denver business attorney immediately for experienced and dedicated counsel to help you navigate the complicated legal world of buing and selling businesses. Our business attorney (also referred to as a corporate lawyer, small business lawyer, or business law attorney) will be there to guide you every step of the way. For the best legal service, contact our business attorney at 303-618-2122. We are located in Denver, and serve all of Colorado.