PREVENTING A LETHAL THREAT TO YOUR BUSINESS
If you buy a business, and there is no covenant to not compete, you may have financed a competitor who could steal your business away from you. If you do not have key employees sign covenants to not compete, they could take your critical business information and/or key customers and vendors with them... (Continue reading...)
Transferring the Family Business to Family Members
When families of business owners get together, whether for holidays or family celebrations, sometimes discussions turn to the future ownership of the business. This blog will look at various considerations important to the transfer of a family business within the family. Overriding considerations in... (Continue reading...)
DAVID V. GOLIATH- Rights of Minority Shareholders
Just because someone may not hold a majority interest in a corporation does NOT mean they are without rights with regards to the operation of the company. General rules of governance All management is vested in directors[1] Directors are elected by shareholders[2] Unless there is a provision in the... (Continue reading...)
Don’t Screw Up Your Start Up!
On Monday Sam Kreamer was back on Insight on Business – The News Hour with Michael Libbie going over some of the Do’s and Don’t’s of business start ups. Click the link below to listen to the podcast! Don’t Screw Up Your Start Up! Read More
Getting What You Pay For When Buying a Restaurant-Part Two
Last week, we answered a couple questions about what happens to food and liquor inventory during the sale of a restaurant. Our clients have also inquired as to whether the licenses from the health inspectors or alcoholic beverages division can be transferred to the new owner of the restaurant. FOOD/HEALTH... (Continue reading...)
Getting What You Pay For When Buying a Restaurant-Part One
Many times we have clients who come in for assistance in purchasing an existing restaurant. Typically the scenario is that Bill Buyer (B) is planning to buy a restaurant from Owen Owner (O). B wonders if he can buy any of the liquor or food inventory that O has in stock. He also wonders if any of... (Continue reading...)
Business Decisions-Who has the power?
Again, I go on air to discuss with Michael Libbie the final part of our Three-Part Interview on “What Happens to Your Business If Anything Happens to You?” This time we’re discussing who will have the power to make the decisions for your business if you can’t. Click the link below... (Continue reading...)
Giving Away Information
Businesses really have only two choices: they can grow (through formation or purchases) or go away (mostly by sale). Those are the two things I spoke about during a recent Lunch and Learn presented for the West Des Moines Chamber of Commerce. If you would like to access the PowerPoint I used, click... (Continue reading...)
Buying and Selling a Business- A Lunch & Learn Event
Buying and/or selling a business requires many considerations. For example, you may find yourself wondering: How to identify the right opportunity as a buyer or a seller; What pitfalls might lurk in the existing economy; How will the pricing and the structuring of the transaction work; What’s the... (Continue reading...)
Employee Wages: Let’s Get to the Basics
Recently minimum wage has been all over the news. Some states and even some cities have passed laws that have raised the minimum wage, recognizing what a person must earn to make a living. Because of this, people are asking, “How much must I pay my W-2 employees here in Iowa?” The law in Iowa... (Continue reading...)
