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I want to purchase a small online business. I'm not sure where to begin.

View Dolan W.
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Letter of Intent

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Asked on Dec 10, 2024

I want to purchase a small online business. I'm not sure where to begin. The business is valued somewhere between 30k and 80k. Funding is 100% secured and this is my first purchase. I do not own a business, I don't know how to draft a letter of intent and I don't know what legal documents are needed. Specifically I want to know considerations and steps. I’ve been looking into this for a few weeks, and I keep getting overwhelmed. I don’t want to mess anything up.

Dolan W.

Answered on Dec 10, 2024

Hi *******, my name is Dolan, and I’d be happy to help with this. I carefully review each question and provide responses based on my years of hands-on experience as a lawyer. I completely understand how purchasing a business for the first time can feel overwhelming, especially the legal side of the house. Just to clarify a few things I have a better sense of the situation and can give you a good answer.
1. Are you purchasing the business (assets, liabilities, etc) or just the assets?
2. Do you have a general idea of how the business is structured, like an LLC, corporation, etc?
3. What exactly do you know about its operations so far-customer base, revenue history, or anything else?


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