What Should Be in a Letter of Intent for a Business Sale in Florida? If you are buying or selling a business, the letter of intent is one of the most important early documents in the deal. Often called an LOI, this document usually comes before the purchase agreement, but it can still have a major effect on […]
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Is My Business Too Small to Franchise? When a Business Model May Already Be a Franchise Your business is not too small to franchise. In fact, the size of the business is not a factor in determining whether a business can be franchised. For many growing businesses, the word “franchise” sounds like something reserved for large
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How a Business Owner Properly Buys Out Their Business Partner or Transfers Their Shares to the Business Partner There are many ways a business owner can buy out their business partner depending on the structure of the company, the relationship between owners, and the goals of the buyout. For many owners, purchasing a partner’s interest
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How an Employee Can Buy Stock in Their Company: A Guide for Wesley Chapel and North Tampa Business Professionals There are many ways an employee can buy the stock of the company they work for depending on their goals. For many employees, the opportunity to purchase stock in the company they work for can be
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Should I Franchise My Business? Whether you should franchise your business depends on a few factors. Franchising your business is a great way to grow your business. Rather than investing multiple times in multiple locations or territories for your business, you can license your business model to franchisees and collect royalties. For example, if you
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How do I buy a business in Florida? The process of buying a business is notably different in Florida than in other states. It is different because, for many “main street” deals, they are treated very similarly to real estate transactions. The parties, particularly when a business broker is involved, use purchase agreements provided by
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Are Non-Compete Agreements Banned? On April 24, 2024, the Federal Trade Commission (FTC) issued a rule banning non-compete agreements for employees. It will become effective 120 days after publication in the Federal Registrar. Employees should immediately work on updating their employment agreements and employee handbooks to comply with the new FTC rule. How Does the
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Franchise agreements can be divided into two main categories, single-unit and multi-unit franchise agreements. However, there are different variations of multi-unit franchise agreements in which the roles, responsibilities, and profit distribution differ. Note that franchise disclosure documents (FDDs) are still required when selling a franchise. Regardless of the complexity of the franchise agreement, it is
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As a franchisee, you may want to sell your franchise for a variety of reasons. Retirement, the franchise not being what you expected, or chasing other business opportunities may be some of them. Regardless of the reason for the transfer, you want to ensure that when you sell your franchise you have a seamless and
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During a business transaction, you need to define early in the process how to structure the deal. Preferably defined in the letter of intent, deciding whether to purchase the stock or the assets of the business will ensure both parties are aware of what will be included in the deal. What are the differences between
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