Only one thing is certain when buying or selling a business… the deal will crash and burn at least three times before it is completed!
The professional advice that the partners of the Kemp Harvey Group give will cost you a fee, but that advice should make your journey into owning your own business or selling your business, much safer in the long run, and might possibly save you a lot of money.
If you are buying, we will help you decide whether or not you should buy the assets of the business (most often preferred), or buy the shares of the business (which attracts the tax history of the business). We will help you through the perils of making an informed decision and give you the tools to be an effective owner. Sometimes our advice might be to walk away from what looks like a good deal (which may be too good to be true). We can provide you with the tools to perform an effective “due diligence” process to protect you from unforeseen pitfalls and areas of concern. We are able to help you with your financing options and assist you in the presentations to your bankers.
If you are selling, we will help you decide what it is you are really selling, guide you into finding out what the real market price might be and help organize your affairs to minimize any tax consequences that may arise as a result of the sale. It is vital to a prospective purchaser that they have correct and reliable information on which to base their decision. Typically this consists of several year end financial statements and tax returns prepared by professionals. We can help you prepare your information into a package that the buyer and their bankers can accept and help you while the “due diligence” process is being followed.
Buying or selling a business is a very exciting time and as professionals, we can be great “backstops” when too much enthusiasm meets too little substance.
Contact your local Kemp Harvey Group office if you require information on buying or selling.