By Guest Contributor Gregory A. May, Esq. – www.kieselandmay.com

Is your contract assignable? That is, can you give or “assign” your place in a contract to a third party?

This issue comes up with regard to business sale transactions under two main scenarios. First, there is a question of whether or not the Purchase Agreement itself is assignable, and second, are the Seller’s third-party contracts assignable?

The answer is not always so clear; but in Florida, contract rights can be assigned unless forbidden by the terms of the contract itself, or unless the assignment would violate some rule of public policy or some statute, or the contract rights involve obligations of a personal nature.

Most contracts should have language that will state whether or not the contract is assignable. If they are assignable, you should read on to determine if consent is required.

Buyers often want a contract to be assignable so that they may transfer the property to a new LLC or Corporation that they have yet to establish. Other times, the buyer is acting as an agent for the “real” buyer, who is unwilling to disclose their identity.

With regard to third party contracts, including vendor and supply contracts, the buyer should be careful to check to see if the contract is assignable or if it can be terminated. The last thing a buyer needs is a business with burdensome long-term vendor contracts.

Check with business broker or a business attorney to discuss these issues, and good luck in your new business!

Gregory A. May, Esq.
Kiesel and May, Attorneys at Law
2121 McGregor Boulevard
Fort Myers, Florida 33901
T: (239) 334-1800
F: (239) 332-3927
www.kieselandmay.com

*This communication is for informational purposes only and shall not be deemed formal legal advice or the formation of an attorney-client relationship.

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com

By Guest Contributor Sabine Weyergraf – www.weyergrafimmigration.com

Are you are a foreign investor who has decided that it is time to invest in a U.S. business and pursue getting an E-2 Visa by purchasing an existing business? If so, there are some important guidelines to help make an appropriate choice.

Of course, it needs to be a business that you, as a foreign investor, can envision yourself successfully operating. If the business can benefit from your prior experience and knowledge, this is even better. There are many ingredients to growing a successful business, including offering a desired product or service, using efficient and effective marketing tools, establishing or expanding on a good reputation and pricing your product or service so that it is competitive.

When deciding on a business that will work, it is important to keep the following guidelines in mind. The business should have at least 3 years of Federal Income Tax Returns available for review. It should be generating a minimum of $100,000 in gross revenues. Ideally, it should be making a profit. If it is not, any loss should be explainable.

There are other important criteria that will help the US Embassy to favorably review a visa application. Look for a business that is somewhat unique in what it offers. The Embassies see the small property management and lawn or pool service companies every day.

The business should have some employees or sub-contractors and definitely have the potential to add more employees. A signed lease for the business premises is important, too, as it provides a targeted area for offering services and allows for more specific marketing details. It is important that the business has proof of existing customers or contracts to show its viability and professional marketing materials to show its ability to acquire new customers.

Businesses that help build the U.S. economy, bring jobs and contracting opportunities to a region and those that can realistically project increasing profits are viewed more favorably by the Embassies and have the most likelihood of receiving a visa extension in the future. These are guidelines that any foreign investor should use in making a decision on the exact business that will work.

Sabine Weyergraf is founding partner and New York licensed attorney practicing solely immigration law with Weyergraf Immigration, PA in Sarasota, Florida.

Contact: 941-706-4102, sabine@weyergrafimmigration.com

This article is provided for general informational purposes and does not constitute legal advice.

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com

By Guest Contributor Ron Frost –  www.PostitiveMomentumCoach.com

Here are a few simple tips on preparing and giving speeches. For more in depth training and public speaking skill development, join a local Toastmasters club.

Ron Frost
Motivational Speaker | Life Coach | Business Coach
www.PositiveMomentumCoach.com
239-265-4380

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com

Everyone who’s lived somewhere with miserably cold winters has likely daydreamed of throwing away the snow shovel and moving to sunny Florida. For many, it’s their retirement plan. Get out of the cold, spend your days at the beach or by the pool in the middle of December – who wouldn’t want vacation as regular life?

The great news for those who don’t want to wait until their golden years is Florida is fast becoming a fantastic place for entrepreneurs. Three of the fastest growing cities in the United States are right here in the sunshine state!

http://www.forbes.com/sites/erincarlyle/2015/01/27/americas-fastest-growing-cities-2015/

http://www.inc.com/graham-winfrey/the-fastest-growing-cities-have-affordable-housing.html

The growth in Florida cities means growth for Florida businesses. The population is continually increasing, creating new clientele. New construction is back on track after the economic meltdown and the small business market is booming as businesses owned by baby boomers are sold by those heading into retirement.

Ever considered making the move south? Click here to search for Florida businesses currently on the market, or contact us here to learn more about business opportunities in the area.

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com