Obtaining financial information on a franchise
One of the things that might encourage someone to buy a franchise are expectations about earnings associated with a particular franchise location. It makes sense as a buyer that you would want to see projections for your location based upon the actual performance of other franchise locations (ideally, other stores that are similar to the […]
Where to go for help when you want to sell your business
So, you’ve decided to sell your business. What are the options available to you so that you sell quickly at the best price possible? In Ontario, you’ve got three choices: (1) using a real estate agent (usually one specializing in a commercial real estate); (2) using a business broker that deals exclusively in the buying […]
Non-competition clauses- what are they and why do I need one?
In a purchase agreement, purchasers will often want to negotiate a covenant with the vendor limiting the vendor’s ability to compete with them after closing in a similar business. If you are buying a bakery, you don’t want the vendor opening up shop a few doors down the street after the closing. If the vendor […]
Buying a business- what about employees?
It is important to find out whether the business you are buying has any part time or full time employees. If so, you will become liable as a successor employer for obligations to these employees, including salary, vacation pay, unemployment insurance premiums and worker’s compensation premiums. Because of these obligations, and the difficulty of determining […]
Buying an existing business- lease issues
To follow up on my earlier post on buying a business, it is always essential to look at the details of the lease you will be acquiring as part of the business (if the business is on leased premises).
Will the landlord consent to you assuming the lease? For some businesses, the value of the business […]
