How do I Go About Selling or Buying a Business?
Oftentimes, businesses use brokers to sell or buy a business, and then once the general terms of the purchase and sale are reached, closing on the transaction takes place. Sometimes, if it is a corporation, the sale takes place through a Stock Purchase Agreement. Oftentimes, the sale does not involve the sale of the stock, but the assets of the business. The terms of the purchase and sale are tailor-made with the individual business. For example, many times a business can be part of a franchise. In that case, the sale must comply with the terms in the Franchise Agreement between the franchisor and the franchisee.
I have been involved with the formation of business entities and the buying and selling of business entities for over 30 years. Please call me if you should have questions.