Many Small Business Buyers Fail To Inform And Protect Themselves
Buying an existing small business can present many opportunities but is also fraught with danger. Over the years Harper Law has been involved in numerous lawsuits and other disputes arising out of business sales where one or both parties failed to adequately inform and protect themselves before consumating the deal.
Small Business Buyers Should Seek Professional Help
Unfortunately, buying a reputable and profitable business can be difficult if you are not careful. The most important thing a prospective business purchaser should do is surround himself or herself with a good team. At a minimum, this team must include an attorney and an accountant who are familiar with the process. Having professionals on your side is imperative. Don't be fooled into thinking the business broker, who's interests are more aligned with the seller, has your interests in mind.
There are a lot of businesses out there for sale. Don't fall in love too soon and don't fail to do your due diligence. Professionals on your side can't guarantee your success, but failing to protect yourself may very well ensure your failure.