top of page

5 Tips On Selling Your Business In Burbank, CA

Updated: Sep 12, 2022

5 Things To Consider Before Selling Your Business in Burbank, California

Selling a business isn't easy. There's a lot of planning and paperwork involved. That's why it's important to stay organized while you're at it.

Additionally, selling your business also means you have to be ready to transfer everything—including permits and other documents—some of which are necessary to avoid future legal disputes.


California business law

You've got a lot more on your mind than simply finding someone to buy your company. Before you can let go of your business, there's a lot to liquidate, file, and process.


So, here's a brief guide to selling your business, as advised by prescreened Burbank Business Law Attorneys.

1. Have A Reason To Sell Your Business

A potential buyer will want to know why you're selling your business. By presenting a valid explanation, you may help the potential buyer make an informed decision.


It might be that your business has grown too quickly or become too big for you to handle. You can be faced with hefty taxes and production costs that you can no longer afford, so you decide to sell the business to someone who is willing to take them on.


best business attorney in los angeles

Or, it could just be a change in personal goals. A few business owners are looking forward to being rid of the stress of running a business so they may pursue other interests. Selling the company can provide a change of lifestyle or new professional opportunities.

Whatever the case, the buyer needs to know the intent behind the sale. As you can see, the rationale for selling your business does not have to be revolutionary. All you have to do now is provide the potential buyer those reasons.

2. Compile Important Documents


You may be required to supply the following documentation when selling a business:

  • Tax returns

  • Clearance

  • List of equipment

  • Estimated inventory value

  • List of employees

  • List of clients

  • Leasing contract

  • Franchise agreements

  • Leased equipment

  • Loans and payment schedules

Any company, regardless of size, should be able to supply this information to potential buyers. To avoid giving out information that could be used against you, only provide financial details to serious potential buyers. A non-disclosure agreement can also be signed by a potential buyer.


If you need assistance gathering and listing all of the documentation necessary to complete the sale, contact a Burbank, CA Business Lawyer.

3. Evaluate And Compile

Look at the selling prices of similar businesses in your area to get an idea of how much yours is worth. When determining the value of your firm, it's vital to include both tangible and intangible assets.

A well-established business with intangible assets, such as:

  • Company's current position

  • Brand recognition

  • Business status

  • Customer trust

  • Customer service

  • Customer loyalty

Make sure the assessment is accurate. Of course, some bidders will try to persuade you to sell your company for a lower price, but if the valuation is accurate, you'll be able to easily justify the price.

When it comes to handling the sale of your business, take your time. Examine the proposals before accepting them, and make a counteroffer if required.


4. Hire A Broker

As previously said, selling your company requires a number of important stages and documentation. Finding a business broker to assist you is one way to help you get the most out of the process.


best business attorney in burbank

The following are some of the advantages of working with a business broker:

  • By dealing with potential buyers on your behalf, a broker can act as your agent and save you time.

  • Some buyers may prefer to communicate with a professional intermediary.

Finding a broker isn't your only option for getting guidance from skilled people. You might also require assistance with the legal aspect of the situation.


A Burbank Business Lawyer can assist you with a variety of legal difficulties, including:

  • Looking through the evaluation of your business for potential buyers

  • Creating contracts for asset sales and transfers

  • Review documents before you sign them

Remember, if the sale is well-planned, you're less likely to face legal problems in the future. Make sure a prescreened Business Lawyer in Burbank, CA looks over your contracts and agreements for a smooth transaction.

1000Attorneys.com is a California Bar Association Certified Lawyer Referral Service that can refer you to a Business Law Attorney best fit to handle your concerns.


You can contact us through our 24/7 Live Chat (or complete our submission form) for a FREE INITIAL CASE REVIEW.


Related Articles:

Comments


Best Lawyers Near Los Angeles

California State Bar Certified Lawyer Referral And Information Service

Welcome to 1000Attorneys.com, a Lawyer Referral and Information Service certified and approved by the California State Bar.

"Our commitment is to provide you with unbiased and impartial lawyer referrals."

 

Unlike other services, we maintain complete independence from the lawyers receiving these referrals, ensuring transparency and fairness.

While we specialize in California employment law and personal injury claims, we offer our referral services for various other legal areas.

 

At 1000Attorneys.com, we aim to ensure you are connected with best California attorney near you who can provide comprehensive and exceptional representation for your specific legal needs.

 

We understand that every legal situation is unique and are dedicated to finding the best match for you.

 

With our extensive network of attorneys, we strive to deliver outstanding legal support and guidance tailored to your individual requirements.

At 1000Attorneys.com, we hold California attorneys to the highest standards of professional conduct.

 

Your satisfaction and confidence in the legal representation you receive are paramount to us.

 

Rest assured that when you engage in our services, you can expect nothing less than exceptional legal support and guidance.

Why Lawyer Referrals Matter

 

The California State Bar investigates on average 16,000 complaints of professional misconduct by attorneys annually.

We conduct due diligence by researching and recommending the best local attorney for your case. 

 

Our team of experts verifies that attorneys are in good standing and have the required experience in the type of law related to your legal issue. 

Learn more about attorney discipline here.

 

Our History 

 

Since 2005, we have been dedicated to helping individuals find reliable legal representation in California.

 

We understand the challenges people face when trying to locate reputable lawyers, especially when inundated with self-promoting advertisements and biased marketing from law firms.

 

At our service, we strive to cut through the noise and provide a trustworthy and unbiased platform for connecting individuals with reputable California lawyers.

 

Our clients receive quality legal representation without the frustration and uncertainty often associated with legal advertising.

How the LRS Works 


Anyone seeking competent and honest legal representation in California, can request a FREE lawyer referral. 

Once you submit your case details online, our legal 24-hour legal department will review your claim and reply via email. Most cases are reviewed and answered within 15 minutes. 

 

A free 30 minute consultation with the attorney will be offered to each referred client. 

A representative will follow up a few days later via email with the client after receiving a referral for quality management purposes, or to obtain the status of the case. 

About lawyers from our network


California lawyers in our network are insured, in good standing with the California State Bar, and have substantial experience in their practice area.

 

Attorneys are available in most areas of law throughout Southern California. Every lawyer in or network has been vetted for:

  • Credentials

  • Education

  • Communication skills

  • Performance

  • Client reviews

  • Fair legal fees

  • Continuing education

  • Professional affiliations

Additionally, we conduct criminal  background checks and attorneys are always monitored by our service.  

How to find the best lawyer for your legal case: 

1. The fastest way to have your legal issue reviewed by one of our attorneys is to send your details online.

 

Your information will go directly to our 24 hour legal department bypassing our call center. You will get a reply via email within 15 minutes. 

2. You may also inquire about your legal issue via email. We respond to email inquiries within 24 hours M-F. 

3. By calling our lawyer referral hotline 661-310-7999. However, our agents are not attorneys and cannot provide legal advice. Due to high call volumes, it's highly recommended that you use option # 1 above. 

 

Simple Retro Handyman Service Badge Logo-2.png
bottom of page