This very broad area covers may aspects which can be interrelated.
An understanding of how business operate and a thorough knowledge of the process of both purchasing and selling business is the key to superior service in undertaking this work. People purchase a business for a variety of reasons, generally believing that it will be very successful. Before deciding to buy a business, you need to determine whether or not the purchase is a good investment, this process is called "due diligence". The extent of this success may be significantly affected by the terms of the contract for the purchase, the critical evaluation of aspects of the business and the structure used to operate the business. Many people are unaware of the vast array of issues that can arise.
We thoroughly review the Vendor's documentation, advise on the present and future legal risks, negotiate on the most favorable contractual terms and evaluate the advantages and disadvantages of different business structures to complete the transaction.
Typical issues that arise include, examination of the Lease, any breaches and the ability to transfer the Lease, Restraint of Trade clauses, review of existing Contracts with suppliers and customers, Debts on stock-in-trade and equipment, Compliance with orders from Public Authorities, Employee arrangements including terminations and employment and the transfer of any applicable Licenses etc.
The estimate of fees for the Purchase of a Business is $1,500.00 plus disbursements.
The estimate of fees for the Sale of a Business is $1,400.00 plus disbursements.
Similar issues arise with the purchase of a franchise, you need to also consider the disclosure document, Franchise Agreement, the initial franchise fee, your right to sell the business, the operations manual, training, compliance with the Franchising Code, Minimum performance criteria for franchisees and Trademark or intellectual property issues.
The estimate of fees for the Purchase of a Franchise is $1,600.00 plus disbursements.
The estimate of fees for the Sale of a Franchise is $1,500.00 plus disbursements.