Purchasing a business is usually a significant investment decision and can be scary yet at the same time very exciting. Some people find a standalone business which might be a restaurant, bar, gym, or service-based business. Other people might look at buying a franchise like a garden care business or perhaps they own an existing business and are expanding and buying complimentary businesses.
Regardless of what type of business you are buying getting a good team is crucial. An accountant and a lawyer are a good start to help understand all the aspects involved in purchasing a business.
Our team of lawyers will make sure that the entire process from the agreement for sale and purchase, leases, financing documentation and contracts are explained and help you fulfil your due diligence. This often means working with you, your accountant, lender and other third parties involved in the process.
Amongst the work your lawyer will assist you with is;
- Reviewing Sale and Purchase Agreements;
- Assisting with the due diligence required before buying a business;
- Reviewing and advising on franchise agreements;
- Setting up and advice on structures;
- Reviewing new and existing contracts and agreements required for the operation of the business;
- Reviewing existing leasing arrangements and arranging the assignment of leases;
- Reviewing and advising on loan documentation and security required to fund your purchase and provide for the financial needs of the business. This could be funds from family, the current business owner or more commonly a Bank;
- How to best protect your business and your assets.