Making the decision to enter into a new business endeavor is a very exciting time. It is a period of planning and organizing one’s vision for the future, trying to find a viable format for success. The development stage of acquiring an existing business is critical, as it sets the stage for all things that will evolve for that business (and your future!) thereafter. Hence the extreme importance of having the most experienced team of experts available to navigate all options and issues involved.
The first and most essential step in business plan development is to hire a well-connected, experienced attorney. There are thousands to choose from, of course, especially in a major financial centre like Toronto. So how do you determine which firm would best suit your personal needs? Retain an experienced commercial law attorney through a start-up law firm. This will ensure that you obtain the experience necessary to develop an agreement of purchase and sale that is most beneficial to you, as well as devoted attention to your unique demands.
There are many areas to be reviewed before making the determination that a deal will be a success – but the absolute first step is to obtain legal services from Adam Dwek or a lawyer like him working in your area. Expert legal advice and representation is key to the success of your new venture. One thing to be absolutely sure of is that the lawyer you choose has to have significant local presence – that’s why it’s not enough to select a lawyer who has the skills, you want to be sure they have the right experience and network, too. Each market is unique and you need someone who understands the particular challenges that you will face. Having experience within that particular market, such as the experience Adam Dwek offers to businesses operating in Toronto, gives you the assurance that your representative truly understands your business growth potential within the community.
When purchasing a business, you will need an auditor’s report of the business’s history, the “blue book value” of the business in its current state, and the ability to investigate all financing options available. The law firm you select should be a holistic organization that is able to handle all of these tasks for you – in addition to whatever else is required! Having an in-house, top-notch accountant, along with a financial adviser on staff, will allow for an easy, accessible flow of all aspects of the purchase contract to be arranged in a timely and thorough manner.
Whether this new business represents your very first or is just another addition to your growing commercial empire, each is unique and requires a law firm like Dwek Law, which has the legal experience to effectively execute the agreement of purchase and sale. With experience, you will find the peace of mind in knowing that both you and your future business are adequately protected. Make sure to take time to research and select the best firm for you.