- Review Financial Statements: Analyze the balance sheets, income
Tips and Strategies for Buying an Existing Business
Seven Crucial Steps Every Aspiring Franchisee Should Take During Due Diligence
Thinking of diving into the world of franchising? Hold your horses! Before you jump in, it’s essential to do your homework. Here are seven must-do steps every savvy franchisee should follow to ensure they’re making a well-informed decision.
1. Review the Franchise Disclosure Document (FDD)
The FDD is your franchising bible. It’s packed with vital
Selling Your Business? Why Securing Upfront Payment is Crucial for Sellers
All over the Web, you’ll see countless posts on strategies and benefits of obtaining seller financing if you are buying a business. And while that’s great for a business buyer, there are different considerations if you are a business owner. If you are selling a business, the financial terms can significantly impact your future financial
Does a Corporation Offer Better Asset Protection than an LLC?
When deciding how to structure your business, one crucial consideration is asset protection. A common belief is that corporations offer better asset protection than Limited Liability Companies (LLCs). However, this belief is a myth. LLCs can provide equally robust asset protection, often with greater flexibility and fewer formalities.
The Rise of the LLC
LLCs have
Do I Really Need an LLC for Each Rental Property? Key Considerations
This is a question I get all the time. When managing multiple rental properties, one of the primary questions investors face is whether to establish a separate Limited Liability Company (LLC) for each property. While an LLC offers several advantages, the decision to create one for each property involves various considerations, such as the amount
Franchise Noncompetes: Navigating Beyond the FTC’s Ban
In the realm of business agreements, noncompete clauses have long been a subject of scrutiny and debate. These contractual provisions restrict individuals from working for or starting a competing business within a specified time frame and geographical area after leaving their current employment. While the Federal Trade Commission (FTC) has taken steps to limit the
Noncompetes Banned by Federal Trade Commission: A Business Lawyer Perspective
In a landmark move, the Federal Trade Commission (FTC) narrowly approved a ban on noncompete clauses, sparking significant debate and raising questions about the future of employment contracts. As a business lawyer, I’ve been closely following this development and believe it’s crucial to examine both the opportunities and challenges it presents for businesses.
Key provisions
The Importance of Separating Personal and Business Finances for Corporate Protection
A young entrepreneur recently came to see me for some very basic, but extremely important advice. He had read many articles and watched videos on the Internet about maintaining corporate protections. He had realized pretty quickly that running a successful business requires careful planning and organization, especially when it comes to managing finances. One critical
Navigating the Landscape of the Corporate Transparency Act
The Corporate Transparency Act (CTA) is part of sweeping Congressional changes to anti-money laundering laws. Starting January 1, 2024, the CTA will require most small businesses and corporate entities to file a Beneficial Ownership Information Report with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).
Initial reports for existing businesses (those created prior
The Surprising Truth as to Why Franchisors Often Fall Short in Providing Support to Franchisees
Starting a business can be a daunting task, but franchising has become a popular choice for entrepreneurs who want the benefits of owning their own business with a proven model, as well as support from the franchisor. However, not all franchisors provide the support franchisees need to operate a successful business. In this blog post