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Are you looking for a business for takeover in California? Or do you have a business that you want to sell? Whichever it is, we have your back! Easy Buy Sell Business, a leading business buy sale website with a global audience, is now available in California. With our easy to use platforms and extraordinary agents, it will now be a piece of cake for you to find businesses and buyers in the Golden State.
Things to Know About the Business for Takeover in California
California is a big state, with a population of around 40 million. People from all around the world migrated and made their homes here. House of Hollywood, California is regarded as the Golden State for a reason- you can make your dreams come true. You can get a degree in some of the most recognized universities, stroll in the most beautiful places, and live a life in the dreamy weather with all the perks and facilities the modern world has to offer.
One thing that has to be highlighted is how great it is to run a business in California. You get the best infrastructures, a big economy with access to a large customer base of all backgrounds, and even financing schemes and guides and agents who will assist you in reaching new heights with your venture.
You should be aware of some things if you want to buy a business in California:
Size and the Type of Business
First, you should understand the type and the size of the business you want to buy. It can be a small venture to an SME or even an enterprise – all of this depends on your budget and expertise.
These are the types of businesses available in California:
Sole Proprietorship: A single person who runs the whole company. They will have the rights to all of the profit, but also will be liable for the losses and debts.
Partnership: A partnership is similar to sole-proprietorship, but multiple people will run the company. A general partnership consists of partners making equal contributions while limited partnerships have limited partners, who don’t make as many investments as the others and thus, can’t make as many business decisions.
Limited Liability Company (LLC): The difference between an LLC and the previous two is that the LLC stands as a separate legal entity. You can become the owner of the company, but still, your personal assets will be protected from the investments you put in the company.
Corporation: It is similar to the LLC, but is different in a way that there are no owners, but shareholders. To buy a Limited Liability Company means purchasing the majority of the shares, which will make you the most influential member of the company.
Do Know Where You Will Get Your Funds
If you are funding yourself, consider whether if you have the necessary finance to buy the company. If not, you will have to know what piques the interests of investors and pitch them in a way that they just can’t say no.
Well, looking for a business for takeover has one significant upside to registering one; it is easier for investors. As investors can see for themselves the profits their business in question is making, they will be more willing to lend you money, rather than just ‘investing in a promising idea.’
Furthermore, in the case where sellers are using business agents, the agents may help fund the buyer. This is definitely an alternative you can consider.
Confidentiality Agreements are Essential
Business buy-sell processes should always be confidential. You see, the new owner being cited for the changing values, ways of operations, and even products of a company may not be taken well by prospective buyers and customers. The idea of the ownership of a business changing hands could create a negative impact on buyers, suppliers and other business partners.
Thus, before buying a business, you should sign a confidentiality agreement that says everything is going to be done behind the curtains. In many cases, the process is secret even from the company’s employees.
Gather a Team of Business Layer, Agent, and a CPA
The business buy-sell process takes up a lot of time, and there are a lot of things to verify and consider. In most cases, business agents are hired by the selling party, while the buyer should be more careful about the legal matters.
You need to hire a good lawyer who can investigate the business. They will need to get the complete disclosure of the legal status, for example, property contracts, tax situation, employee wages, etc. Existing obligations, the financial situation with suppliers and sponsors are also to be considered. The attorney will help you review all current contracts, and assist you in finding red-flags.
Having an accountant by your side will also be helpful as they will look into the company accounts to assess the financial situation and provide you with the most accurate verdict.
Be Clear About the Seller’s Lease
Ask the seller if they are leasing the estate where the business is in. If yes, ask them about the time remaining in the lease. You will also need to talk to the landlord if they are willing to rent you the property at its current price.
In many cases, tenants and landlords would have agreed upon a security deposit. Ask the seller to make it clear if they are planning to take the security deposit or leave it as it is. Don’t forget to negotiate and extend the rental contract for more years if the tenure for the previous agreement is coming to an end soon.
Get to Know the Employees
As we said before, the buy-sell agreements are kept confidential from the employees for the most part. However, as a buyer, you will still need to get to know the workers.
In most cases, buyers and sellers like to disclose the agreement to the employees before 24 to 48 hours of contract signing. This will make sure that the workers will actually work under the new ownership before deciding that they need another job.
You have to research if the key employees who are the most skilled and experienced and can contribute the most to the firm’s success are willing to stick around. As a buyer, you can also add a provision that lets you walk away from a deal if some of the most important employees don’t show interest in working under a new owner.
The State of Doing Business in California in Numbers
The Forbes magazine lists California as the 31st best state to do business in the USA. The other ranking positions are 47th in costs, 25th in labour supply, 40th in regulatory Environment, and 1st in Economic climate. Furthermore, the magazine lists California as the 27th best place to stay in the USA in terms of quality of life, and on the 10th position in Business Growth Prospects.
According to the US Census Bureau, the Median Household income in California is $71,228, and the Average Household Income is $101,493. The per capita income stands at $35,021.
Here is a fun fact: $58 billion venture capital was invested in California businesses in the last two years. This is four times the total of any other US state. You see, California is the largest economy in the USA. According to Forbes again, with a GDP of $2.9 trillion, it will be a close fight against the largest economy in the world if it were a nation.
As per Bluewatercredit, there are around 3.9 million small businesses in California.
The above stats show that you can be very excited about what’s in store for you if you are looking at a business for takeover in California.
Top 10 Attractions to Visit in California
If you buy a business in California, you will need to work very hard. Thus, you will need some great places to destress. To make this article more fun, let us fill you in on some of the best attractions in the state:
Disneyland is a dream destination for kids around the world, which is also a getaway for adults to enjoy the many shows, rides, haunted houses, etc. There are various theme parks, roller coasters, shops, fun games, food stalls, shopping centers, etc. all of which give a feeling that Disneyland is one of those places everyone must visit during their lifetime.
Disneyland has various attractions for adults as well. These include a Bakery Tour, the Disney Gallery, Davy Crockett’s Explorer Canoes, etc. Most of the time, one day is not enough – many great hotels are located inside the area. Don’t forget the spas and restaurants. All in all, every member of your family will be thankful for the time they visited the magical land in Anaheim in California.
Angeles National Forest
Angeles National Forest is a perfect place to take a break from the noisy city life. It is a haven for those who want to hike, campfire, enjoy great natural scenes, and even conduct researches about wildlife.
Many activities are available, including horse riding, fishing (you need a fishing license), picnicking, OHV Riding and Camping, Bicycling, and even Water and Winter Sports. Once you are in Angeles National Forest, don’t forget to visit the mesmerizing Sturtevant Falls, which is around 50-foot-high, and is located on the foothills of the area.
Channel Islands National Park
The Channel Islands National park has five individual islands. The park has been preserved and isolated for thousands of years, so the slogan is very true – Channel Islands National Park is in California, yet worlds apart. There are plants, wildlife and archaeological treasure, untouched and unscathed from the selfish human hands.
Located in Southern California, Channel Islands National Park can be accessed through concessionaire and private boats and planes. You can indulge in various activities like camping, boating, water sports such as Kayaking, water diving, fishing, surfing, tide pooling, snorkeling, whale and bird watching, etc.
California Street Cable Car
California Street Cable car isn’t necessarily a ‘place to visit’, but one of the experiences to have when you are living, visiting, or running a business in California. It is the last manually operated cable car in the world.
Indeed, the street cable car is like a trademark inclusion in many pictures of California. It has the San Francisco feel to it – when you get in one of the three lines, it feels as though like you are in the area. Well of course, your pictures look good too.
Balboa Park is in San Diego, California. It is a must-visit place that should be included in everyone’s itinerary in California.
With 16 Museums (including air and space museums), the famous San Diego Zoo, Balboa park carousel, Spanish Village Art Center, and other attractions, you can indulge yourself in various fun and interesting activities once you enter the premises.
Fisherman’s Wharf is a popular tourist destination in San Francisco. The community was given its name from the fact that Italian immigrant fishers travelled and settled in the place during the 1800 gold rush. Since then, the people have been fishing various species, and thus, the area is a must-go place for anyone that is a fan of seafood.
Fisherman’s Wharf is the home to Pier 39, Ghirardelli Square, and the Musee Mecanique. The area also houses Ghirardelli Square, the San Francisco Maritime National Historic Part, and a Ripley’s Believe it or Not Museum.
Pacific Coast Highway
The trails in the Pacific Coast Highway will be in the story of the best road trip of your life. People can say it is just a ‘road’ for vehicles to travel, but the scenes and the stops in the trip make it one of the highways everyone should visit at least once in their lives.
Once you decide to take this road, you can stop by in places like San Francisco, San Jose, Santa Cruz, Monterey, Big Sur, San Simeon, Santa Barbara, San Luis Obispo, and more. Well, even if you just want to travel, we promise that you won’t have as much fun driving in other places as compared to these.
Seaworld San Diego
Of course, California has a lot of theme parks, but it is not to be included because all of which are fun and exciting. Apart from being an aquatic theme park, Seaworld San Diego is also an oceanarium, aquarium, and marine mammal park.
Generally, around 4 million people visit Seaworld San Diego every year. Attractions include shows and rides, ranging from Dolphin, Sea Lions and Killer Whale lives and Skyride, Riptide Rescue, Skytower, Roller Coasters, etc. Animals in the exhibit include whales, sharks, dolphins, fishes of various species, sea lions, seals, walruses, octopus, etc.
Lava Beds has been attracting historical and geographical fans since ages. The volcanic eruptions lasting for half a million years gave us a diverse landscape with Cones, Lava flows, Lava Fields, Lava Tubes. Lava Beds is also known for its unique flora and fauna.
Once you visit Lava Beds, you will see wildlife like mule deer, coyote, prairie falcon, kangaroo rat, bobcat, jackrabbit, bald eagle, mountain lion, raccoon, skunk, etc. Other activities include caving, camping, hiking, inspecting Modoc war sites, and many more.
Lastly, in our list, Monterey is one of our must-visit attractions in California. It is a perfect place for beach lovers; you can find small areas where only you and your family can relax, and on the other hand, you can also find broad vistas filled with people all the time. Whatever it is, you will love the sun, the sand, the ocean, and of course, the relaxation.
The beaches in the Monterey area are McAbee Beach, San Carlos Beach, Del Monte Beach, and Monterey State Beach and Monterey Bay Waterfront Park respectively. Wherever you go, you can do various activities like surfing, paddling, kayaking, swimming, etc. and if you feel like you are in need of a little bit of adventure, look for shells and rare sea glasses, which are plenty in the area.
Top 10 Sights to Visit in California
A continuation from the previous section, we also would like to provide a guide on places to go to for relaxation and have fun after finding a business for takeover in California. After all, a business owner in California needs to work hard, so they deserve a treat. Thankfully, there are many places suitable for a day off in California:
San Francisco Bay Area
For many people around the world, the Gold Gate Bridge is the first thing that comes into their mind when they think about San Francisco. Well, the Bridge in San Francisco is a sight to see, especially when the first morning sun hits the steel.
There are places like Lombard Street for scenery, Chinatown for shopping, and Little Italy (North Beach) and Fisher’s Wharf to stroll around and appreciate the scenery. Wherever you go in the area, you will never find yourself short on food places, coffee shops, stores, spas, etc.
Other places to note are Mission District, Hayes Valley, Berkley, Oakland, Half Moon Bay, and Pescadero.
Death Valley National Park
Hot, dry, yet beautiful, the Death Valley National Park is a sight to see because of its sand dunes and mountains, singing rocks, salt fields, and even a lake below the sea level.
Various activities are available in the area, including watching the sunrise at Zabriskie Point, driving through the Badwater Road, and learning new facts at the Furnace Creek Visitor Center. Finding Wildlife such as coyotes, kangaroo rats, and foxes at Mesquite Flat Dunes, etc. is going to be exciting for many. Hiking makes you feel fresh while looking at the remains of the park’s ancient civilization enrich you with historical insights.
Big Sur is mostly for camping, hiking, and becoming one with nature. Big Sur collectively consists of Pfeiffer Big Sur State Park and Garrapata State Park, both of which are superb locations for a peaceful retreat from the bustling city life.
The highway is on the side of the hills, besides the ocean. Attractions include Pfeiffer beach, Partington Cove, Old Coast Road, Salmon Creek Falls Trail, Ventana Wildlife Society and more. Whether it be for enjoying the fresh breeze, sunbathing, swimming, or hiking, the area can keep you busy for days.
Lake Tahoe is exceptional in every season. The water is always blue and clear and is surrounded by various cove’s, hiking trails, campgrounds, mountain views, etc. You will have a lot to do if you are a boater, camper, hiker, or a nature lover.
In terms of location, the lake is in the Sierra Nevada mountain range. Having said that, the lake is also one of the biggest and most popular ski destinations in the United States of America. So, visiting the place will be even more fun if you have some skills to show off in the snow.
Redwood National Park
Most of the Redwood trees tower between 200 and 240 feet. Some could even reach a height of 350 feet. Now, imagine yourself surrounded by those tall trees- a cool breeze, peaceful surrounding, and singing birds.
The above paragraph is indeed a perfect description of the Redwood National Park. The National Park, along with state park Jedediah Smith Redwoods State Park, Prairie Creek Redwoods State Park, and Del Norte Redwoods State Park, are the best places to hike and camp in the Northern California Coast.
Joshua Tree National Park
The boulders and stones with unique structures in the Joshua National Park will melt the heart of every onlooker. The skull rock, Barker Dam, (historic reservoir) and the Coachella Value Preserve allowing desert hiking are all excellent places for tourists to experience.
The National Park, as a whole, covers 800,000 acres. In that area, it houses the Cholla cactus Garden, Ruins of the Kes ranch, carious campgrounds, etc. Perhaps, to make your stay memorable at the National Park; you should consider spending a night there. In fact, the twinkling stars in the clear night sky in Joshua Tree is one of the sights that you can’t forget about for life.
Universal Studios Hollywood
We have been talking about nature a lot on this list, but what about the place where they filmed movies like Jurassic World, Fast and Furious, Harry Potter and more? In Universal Studios Hollywood, various organized tours can take you to the sets of your favorite movies.
Shopping centers, dining places, animal shows, rides and roller coasters based on movies, etc. give you a feeling that Universal Studios isn’t just a place for actors to work, but also for tourists to have fun. Furthermore, you may visit the studios during seasons of special events like Stranger Things Maze, Halloween Horror Nights, etc.
Hearst Castle is one of USA’s National Historic Landmark and California Historical Landmark in the Central Coast of California. The castle is a perfect place for fans of architecture who are looking for a short trip that isn’t tiring and can be done in a day.
You will get to see various Antiquities from Ancient Egypt, Greece, and Rome and various classical sculptures. You can’t forget the Textiles and the Paintings. You will most probably visit the castle with a tour guide, who will also take you to the Neptune Pool known as the “most sumptuous swimming pool on earth.” The Roman Pool, under the tennis court, is equally beautiful and is the indoor alternative to the Neptune Pool.
Santa Catalina Island
Santa Catalina Island is in the southern California coast. You will love the place if you like the idea of heart-melting sunrise and sunsets on the ocean, white sand beaches and palm trees dancing under the command of the wind.
There are many things for you to explore and try in the exotic gardens, wine estate, water sports park, and lodges which offer various assortments of delicious seafood.
You can book a helicopter flight, play golf, try kayaks and paddleboards. Zipline is also available above the Descanso Canyon. Furthermore, you can learn about the history of the island in the Catalina Island Museum and take guided tours in the non-gambling Catalina Casino, and the Wrigley Memorial and Botanic Garden.
Yosemite National Park
The final one on our list of the top sights to visit in California is none other than the Yosemite National Park. It is one of the most visited national parks in the United States.
Some features of the park include beautiful waterfalls, mountains, values, rivers, etc. The attractions include Yosemite Falls, Half Dome, Tioga Road, Glacier Point road, etc.
The alpine areas and great scenes make it a perfect place for hikers. The terrain of the place also greatly differs between areas; meaning that you can take part in hikes that don’t take more than a day, and at the same time, you can try to climb hills and mountains and share more about the roads that you walked with your loved ones.
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