New Jersey real estate attorney Christine Matus releases a new article (https://matuslaw.com/6-factors-to-consider-before-buying-an-established-business/) that discusses the six factors to consider before buying an established business. The lawyer mentions that for those who want to expand their business holdings, buying an existing business may seem like a wise move. After all, doing so may allow an individual to jump right into making profits. However, there are numerous things that one should consider before purchasing an existing business.
According to the New Jersey real estate attorney, “First and foremost, you have to think of timing. Is it a good time for you to spend the money on a new business? Is the economy open to it? It is easy to get excited about the potential of purchasing a new company, but if the timing does not match up with your finances and other important factors, the transaction could prove ruinous.”
The lawyer explains in the article that another thing to consider is the company’s books. An individual looking to buy an existing business should conduct thorough due diligence of the books. Issues and discrepancies in the books may indicate serious problems that the client would want to avoid.
Attorney Natalia Sishodia also adds that the company’s reputation is something the buyer should keep in mind. A buyer would want to check if the business they’re looking to buy has a good reputation within the community where it operates. A company’s reputation in the community says a lot about how the company operates and what the buyer will have to deal with once they gain control.
In the article, attorney Sishodia also says that the potential for growth of the company the buyer wants to buy needs to be considered. Many buyers are looking to buy a business in order to make more out of it. However, if the company has a limited potential for growth, it may not be worth the buyer’s money and time.
Furthermore, the real estate lawyer adds that the two other things the buyer should consider are the seller’s reason for selling the business and is the business worth the time. The buyer needs to get a clear picture of why the owner wants to sell and ensure that the reason will not affect the business in the long run.
Lastly, attorney Natalia Sishodia emphasizes the importance of having a skilled real estate attorney when dealing with transactions such as purchasing an existing business. Having an experienced lawyer may be able to help the client weigh their options and make guided decisions about their purchase.
About The Matus Law Group
The Matus Law Group has a team of real estate attorneys who are committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their real estate needs. Call The Matus Law Group today at (732) 785-4453.
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For more information about Matus Law Group – Monmouth County, contact the company here:
Matus Law Group – Monmouth County
Christine Matus
(732) 785-4453
matuslawnj@gmail.com
125 Half Mile Rd Red Bank, NJ 07701
