In Show 074 – Selling Part of Your Business originally broadcast on Facebook Live on Monday 26 March 2018 we explore this interesting topic.
Today on Fast Fix Monday we’re going to talk briefly about selling part of your business. All this month we’ve been focused on selling your business outright. That’s not always the best option. Selling just a portion of your company may be the better the solution.
The classic example of this is a real estate company that typically has two income streams. The first is the sales part of the business. The second is the rent roll of properties rented on a monthly basis. Both are very valuable assets and it’s very common for a real estate company to maintain it’s sales business while selling the rent roll for a high profit.
There are many reasons why you would want to sell just a part of the business. The first is that you may be in need of some quick cash. Selling part of your business can alleviate that fiscal need while maintaining an income stream for the future. A partial sale can also help you to access resources that you can then use to invest in another part of the business. Remember to exercise caution. Once you sell you can’t get it back!
The important thing to remember is that you need the right advice before you commit to a sale.
More about this Show
We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms. Most importantly we want to help you to develop a plan to take your business successfully into the future. There’s a startling statistic the underscores the importance of developing a solid plan. The majority of business owners are just seven months away from losing everything. A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly. Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients. We want to close that gap once and for all. We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.
Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV. We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with. Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.