Salt Lake City Office
2150 E 1300 S
For most of us, buying a new business is the single largest and most important transaction of our lifetime.
Buying a business is a huge investment of time and money. Preparation is key to getting the most for your investment with the least amount of risk. There are unforeseen challenges, both personal and in a business. Prepare and protect your investment and protect the future growth of your business.
You want people watching your back who are not new at this, you want decades of experience behind you—by people who are highly versed and are accustomed to all working together, knowing what you want, where you are, where you want to be, when you want to be there, so they can help you understand your options to guide you safely to your destination.
No matter the size or complexity of the new company, you want to make sure this important transaction is correctly planned and executed by professionals that are well versed in your transaction. This team includes TruNorth as your Financial Advisor, your lawyer, accountant, and commercial banker. TruNorth Investment Management has the experience to help you make the right plans at the right time.
Who needs one?
Buy-sell agreements legally define the terms of the sale. The agreement legally binds the buyer and seller of the company to buy the shares of the company at a pre-determined price and outlines payment terms. Many times, insurance is used to protect all parties in the event of death, disability, or other legally qualifying events.
If it isn’t in writing, it never happened. There are many events that happen in life personally and in a business. Be sure to protect all aspects of ownership through the whole process.
Are there non-disclosure agreements? Non-compete agreements? Are all agreements legally sound and binding?
There are many options and combinations to finance buying the business:
As you are entering into this transaction, begin with the end in mind: