Selling your business anywhere is a life-changing event. The sale will likely be the most significant financial event of your life and may even be a large part of your plan for retirement. It’s important that you plan for this event just as carefully, if not more so than you plan for other things in your business. But when selling a business in California, things can be a little more complicated and require more planning than in other states.
The reasons are many. California generally leads the nation in regulations designed to protect the environment, and many of these involve the fact that you must have special licensing and certifications in many types of businesses.
Not only do these regulations and others affect your ability to find a qualified buyer, but there are other laws unique to California that affect how a business is sold. There are legal requirements in addition to the fact that you must use an escrow process when selling a business.
These business deals can be complex, but they can be navigated with the help of a Certified Business Broker and with some proper planning ahead of time. Here is some detailed information regarding everything you need to know.