Selling a Business in Arizona
Selling a business after years of work can be extremely profitable. Many businesses are created with the hopes that they will one day be acquired by a larger firm. The sale can be complicated, however. There are Federal and Arizona laws concerning mergers, acquisitions, negotiations and securities exchanges that must be followed.
How Do I Sell a Business?
To sell a business there must be an offer, whether it is solicited or not. Purchase agents in Chandler not only help to secure an offer, but also lends advice about which offers are worthwhile to consider. Determining the correct value for the rights you are selling is critical in this process. To do this, financial statements must be updated and prepared to comply with Arizona and Federal law. As a final step, an agreement for the purchase will be reached, normally in the form of a written contract. It should be reviewed by all parties to ensure that what was agreed upon is accurately presented.
What Will I Give Up in the Business?
The sale of a business is simply the transfer of a right known as "control". The party with control of a business directs its operations and can use the business property as it sees fit. A party seeking to purchase a Chandler business may not be concerned with all aspects of the company. In fact, purchasers are normally interested in acquiring control as cheaply as possible, and this may allow other rights, including the right to future earnings, to be apportioned or even retained by the seller. The wide variety of concerns that buyers may have make the negotiations process particularly vital. It's important at the start for each party to make plain their intentions and concerns.
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Life in ChandlerSince the 1950s, Chandler, Arizona has been growing in population, diversity, and economic growth! Chandler is home to many attractions. For the nature-lovers, the Veterans Oasis & Environmental Educational Center have over 100 acres of wetlands and desert perfect for hiking, fishing, biking, and picnics. Those who love to skate will enjoy spending time at the Chandler Skate Park, a 35,000 square-foot park used by skateboarders and in-line skaters.
A very unique attraction is Rawhide, a 1880s themed western town with shootouts, wagon rides, burro rides, gold panning, etc. Rawhide opened in Chandler in 2006 and has been a favorite of the locals and tourists since!
Chandler's historic downtown is filled with shops, restaurants, and galleries. There is also a quaint garden filled with antique shops and an old-fashioned ambiance. On the first Wednesday of every month, local artists display their work for everyone to enjoy, and hopefully buy. Located near downtown is Chandler Historical Museum, a museum free to the public with many exhibits displaying the city's rich history.
Chandler is also famous for the Ostrich Festival and Jazz Festival. The Ostrich Festival is a family event with ostrich races and other "ostrich-themed" activities. There is also music, parades, a carnival, and great food. The Festival originates from the city's tradition of Ostrich Ranching. Similarly, the city has an annual traditional event-the Jazz Festival. This is a weekend long event where many jazz musicians showcase their talent for the public to enjoy!
Since Chandler is viewed as one of Phoenix's most prominent suburbs, residents of Chandler have access to the large firms and legal market of Phoenix. Additionally, there are many smaller firms and solo-practitioners with law offices located in Chandler, guaranteeing attorneys who are focused on zealously representing their clients. Therefore, everyone's legal needs are met. Moreover, Chandler residents are fortunate to have a more personalized and service-oriented approach to address their legal needs.
How Can an Attorney Help?
In selling a business, the seller must meet the requirements of Arizona law. A local attorney practicing in Chandler will be able to advise you about your particular sale.