Planning for the Worst and Expecting the Best: 3 Exit Strategies for Franchisees

So, you’ve just purchased a franchise and are looking forward to getting it off the ground. Congratulations! This is a huge first step towards becoming a successful business owner. But, have you put any thought towards what you’ll do in the event that you want to sell or get rid of it down the road? If you haven’t, don’t worry. It’s natural not to think about how to end something when you’re still trying to get it Read More

Back to the Basics: Understanding the Various Kinds of Business Entities

If you’re starting a new business, there many things you have to worry about—from getting funded to figuring out who to work with. But before you get started, the first thing you will need to do is choose the kind of business entity that is right for you. There are several options, which can make this process overwhelming. Each has its own advantages over the other, so in order to make sure you select the right Read More

6 Things to Think About Before Purchasing Commercial Real Estate

So you’re getting ready to purchase some commercial real estate for your business…congratulations! This is a big step forward towards growing your business and achieving your goals. But of course, purchasing commercial real estate is an overwhelming and time-consuming process that requires lots of thought and patience. At the Wilson Law Group, we have decades of experience in dealing with commercial real estate Read More

6 Ways to Increase Your Business’s Value Before You Sell

As a business owner, there may come a time when you’ll want to sell your company. Before you do so, it’s important to make sure that you will get the most value out of all the hard work that you have put into building your business. There are many things to think about before listing it for sale. At the forefront of your mind should be thinking about how to increase your business’s value. Here we discuss some of the Read More

A Guide to Private Placement Memorandums

If you own a company, and want to increase growth and raise funds without going public or into debt, a private placement memorandum (PPM) might be for you. A private placement is called that because no public means of communications can be used to promote the sale of the securities. A PPM, also referred to as an offering memorandum or offering document, is a legal document used by companies that discloses everything Read More

4 Reasons You Need a Non-Compete Agreement

A covenant not to compete, often referred to as a “non-compete clause,” is where one party promises not to engage in a similar trade or in certain acts of competition for a specified period of time within a designated geographical area. Non-compete agreements can be particularly useful for small businesses because they are inherently more vulnerable to outside forces than their larger and more established Read More

The 5 Elements Every Employee Handbook Should Contain

An employee handbook is essential for any business. As an owner, you likely won’t have the ability to personally relay all of the important corporate information to each of your employees. A handbook is an indispensable tool that you can use to communicate with your employees to make sure that everyone feels welcome, knows their rights, and understands corporate policy. There are numerous benefits to having one, from Read More

A Brief Introduction to Due Diligence

Imagine you are buying a house. The owners tell you that they are interested in selling because they are close to retirement and want to downsize to an apartment in the city. They also assure you that, other than a few minor cosmetic repairs, the house is in great condition. Would you, or any other home buyer, simply take the owners’ word that the house will be a great investment for you? Of course not! You would Read More

4 Potential Issues to Proactively Address in Your Operating Agreement

When creating an operating agreement for a limited liability company (LLC), members should attempt to proactively address potential future issues with the business. Sometimes unavoidable events happen, and if your operating agreement is silent on the most common issues, your business members will be left scrambling to try to amend the agreement after the fact. Having a solid operating agreement that provides for Read More

4 Ways Veterans Can Find Help Starting a Business

Veterans have more options than ever when it comes to receiving training and financing to start their own business. Specifically designed for veterans, these programs and funding sources give our nation’s heroes the financial edge and training they need to become successful business owners. 1) Military Reservist Economic Injury Disaster Loan This type of funding is administered by the Small Business Association Read More