In 2015, Service Champions, a national HVAC installation company estimated that the average cost of an HVAC system ranges from $6,000 to $12,000. Now imagine you are a franchisee, or a small business owner leasing commercial space when the pre-existing HVAC system breaks down. Your first thought might be that the landlord is responsible. However, if your lease is not carefully drafted then it … [Read more...] about HVAC in Commercial Leases: Better Drafting = Better Bottom Line
Small Business Basics: The SBA Loan
If you are thinking about starting or acquiring a small business, you will need to know what an SBA loan is. SBA stands for Small Business Administration, which is a Federal Agency that is dedicated to assisting entrepreneurs obtain small business loans. The SBA does not provide financing directly to small business owners; it simply works with banks to provide financing to those who are classified … [Read more...] about Small Business Basics: The SBA Loan
Reasons to Use an Attorney When Buying or Selling a Business
Buying or selling a business can be both exciting and frightening. However, using an attorney to assist you can ensure that this process remains exciting and profitable. The goal of this article is to explain why you need an attorney when buying or selling a business, the benefits to engaging an attorney for the purchase and sale of a business, and how to make the purchase or sale of your business … [Read more...] about Reasons to Use an Attorney When Buying or Selling a Business
The Importance of Using Wires for Closings and Any Legal Transactions
When engaging an Attorney in a legal transaction involving any transfer of assets or money, the term “wire” or “wire transfer” will often come up. The purpose of this article is to explain: 1) what a “wire” is; 2) the benefits of using a “wire”; and 3) why it is pertinent than you opt to use a “wire” in future legal engagements. What is a Wire? A “wire” is a term used to describe a wire … [Read more...] about The Importance of Using Wires for Closings and Any Legal Transactions
What Does Estate Planning Have to Do with My Business?
The business that you and your partners have been building for years is finally running at peak efficiency. You have all put in many hours to make it work the way you want it to. Then tragedy strikes when one of your partners suddenly dies. Many questions surface among you and your partners, such as:
- What Will Happen to My Deceased Partner’s Shares in Our Business?
- Will We Be … [Read more...] about What Does Estate Planning Have to Do with My Business?