You want to sell your business, but it has a commercial lease. Is it possible? Take a look at the information provided below to learn more about how you should go about selling your business if you have a commercial lease.
What should you know about selling a business with a commercial lease?
Check for a transfer clause — If you are trying to sell a business with an existing commercial lease, you may need to negotiate this with your landlord. Check your lease agreement to see if there are any transfer clauses that state stipulations about transferring ownership. They might prefer not to transfer the lease agreement to a new owner. This can ultimately be decided between you and your landlord.
Notify your landlord so they can research the new owner — You’ll need to notify your landlord that you’re planning to sell, of course. If you have a prospective buyer, your landlord may want to research whether this buyer would be a reliable tenant. Not only is it courteous to notify your landlord ahead of time, but it could also save you from a botched business deal.
Check for a personal guarantee — Personal guarantees assure the landlord that if the new owner defaults on their lease, you will become responsible for their payments. Make sure to check your lease agreement for any mention of a personal guarantee.
Lion Business Brokers can help you sell your business if you have a commercial lease
Our team here at Lion Business Brokers has extensive experience in assisting people who want to sell businesses. Trust us to know the right questions to ask while keeping your best interest at the forefront of our minds. If you have a commercial lease for the location you operate a business out of, selling can be tricky to navigate.
We possess the capability to perform several types of services, including but not limited to business valuations, closing deals and qualifying buyers. Lion Business Brokers can guide you through every step of the way, including when you need assistance asking the right questions before selling a business with a commercial lease. We’re a team made up of trusted mergers and acquisitions specialists who value our clients’ needs over our own.
Our team is happy to help you through the selling process while ensuring that you make informed choices that best fit your needs. We’re a trusted name in the industry. We work hard every day to make sure we can be a valuable resource and partner to our clients. Take a moment to set up a free business valuation consultation today or drop us a line to discover how we can help you appraise, buy or sell a business. Let’s get the process started!
Can you sell a business with a commercial lease?
You want to sell your business, but it has a commercial lease. Is it possible? Take a look at the information provided below to learn more about how you should go about selling your business if you have a commercial lease.
What should you know about selling a business with a commercial lease?
Lion Business Brokers can help you sell your business if you have a commercial lease
Our team here at Lion Business Brokers has extensive experience in assisting people who want to sell businesses. Trust us to know the right questions to ask while keeping your best interest at the forefront of our minds. If you have a commercial lease for the location you operate a business out of, selling can be tricky to navigate.
We possess the capability to perform several types of services, including but not limited to business valuations, closing deals and qualifying buyers. Lion Business Brokers can guide you through every step of the way, including when you need assistance asking the right questions before selling a business with a commercial lease. We’re a team made up of trusted mergers and acquisitions specialists who value our clients’ needs over our own.
Our team is happy to help you through the selling process while ensuring that you make informed choices that best fit your needs. We’re a trusted name in the industry. We work hard every day to make sure we can be a valuable resource and partner to our clients. Take a moment to set up a free business valuation consultation today or drop us a line to discover how we can help you appraise, buy or sell a business. Let’s get the process started!
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