When buying or selling a business in California, you should have a team of advisers assist you. You need a team of 3 professionals consisting of a Business Broker, CPA and Attorney. Each one will play a vital role and in spite of the fees or commissions paid to your team, you’ll come out ahead.

The knowledge of selling businesses in California makes your Broker extremely valuable. Whether you’re buying or selling, hiring a Broker to assist with the entire process will save you thousands of dollars and literally 100’s of hours of valuable time. You can continue running your business while someone else markets, pre-qualifies, prepares and sells your business.

The CPA is going to advise you how to structure the sale so you benefit from a tax perspective. Only your CPA understands how your taxes have been filed in the past. They understand what you can and can’t expense. They understand your personal and business taxes which make them irreplaceable when buying or selling a business.

Your attorney will review contracts, escrow instructions and help with any final negotiations related to the language in your purchase agreement, note, UCC Filings and any other required licenses, etc. Once you agree to price and terms your attorney should be involved. You can essentially get through the early stages of the buying or selling process alone but once you reach the Purchase Agreement stage, your attorney must review everything you sign. Attorney’s are a valuable resource when buying or selling a business.

Buying or selling a business requires a lot of expertise and by hiring a team in the process, you’ll eliminate mistakes, save money, protect yourself, get professional advice throughout the entire process and close your sale without any loose ends.

Leave A Comment