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September 2019 Archives

Finding opportunities by buying existing businesses

North Carolina entrepreneurs might dream of coming up with the next great profitable idea, but success more often lies in acquiring an existing business and taking it to new heights. The purchase of an existing business allows someone to tap into an operation that has already proven its concept to some extent. It has built a customer or subscriber base and achieved a financial track record. An existing business also provides the new owner with an established supply and distribution network.

Safety concerns remain high with big rigs

Roadways throughout North Carolina and the rest of the nation are becoming safer. Each year, new technologies in vehicles lead to increased protections for drivers and passengers. However, concerns remain high regarding large semi-tractor trailers. This is because of the sheer size and mass of these vehicles. National Highway Safety Traffic Administration data shows that 4,761 people were killed in crashes that involved large trucks in 2017.

Producers of David Spade show sued for wrongful death

North Carolina fans of comedian David Spade might be interested to learn that the producers of his new comedy "Lights Out" have been slapped with a wrongful death claim stemming from a deadly car accident involving a staffer on the show. The lawsuit was filed in Los Angeles Superior Court on Sept. 10.

Strategies for selling a DME business

Some baby boomers in North Carolina and other states built their wealth with businesses that sell durable medical equipment, or DME, and as they enter retirement, they will be looking for ways to sell these businesses. Unfortunately, research shows that there will be far fewer buyers for these businesses than sellers. The Small Business Administration reports that about two-thirds of boomer-owned businesses won't be able to find buyers. There are, however, several strategies that can help these owners improve their chances of making a sale.

Helpful tips for offering to buy a business

North Carolina entrepreneurs know that there are many things to keep in mind when it comes to making an offer on a business that's for sale. Making the offer is what will drive the process of buying the business. It's the only way for the potential buyer to know what the seller thinks and if there are areas where they will concede.

How to safely ride a motorcycle

While it may be possible to ride a motorcycle in North Carolina during all four seasons, it is important to do so safely. Each of the seasons has its share of inclement weather conditions that riders need to be ready for. In the spring, there is a good chance that it will rain, which can create slippery road conditions. Roads tend to be at their worst just after they get wet.

Building had elevator malfunctions prior to fatal accident

Many people in North Carolina use elevators every day without thinking that a breakdown could cost them their lives. A deadly accident in a major city serves as a reminder that elevators require ongoing maintenance to ensure safe operation. Residents of the building, where a 30-year-old man perished when the elevator car slipped down the shaft as he was exiting, had experienced problems with the elevator before he died.

Key mistakes to avoid when selling a small business

According to the Exit Planning Institute (EPI), over 4 million companies will be put on the market in the next 10 years. Those businesses are worth more than $10 trillion, and the owners are mostly older individuals who are planning on using the money to fund their retirements. However, only about 30% of those companies will be sold. This is because many North Carolina business owners make key mistakes that complicate their efforts to exit gracefully.

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Britton Law, P.A.
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Fayetteville, NC 28304

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September 2019 Archives | Blog