You want to accelerate your professional career by becoming an entrepreneur in the United States and hit the 4th gear right away ... Ok, but let’s start with the 1st! Leave the SoBarnes automatic transmission behind to optimize your chances of success.
The rearview is adjusted (no need to look back), the seat is well-positioned (your budget is fixed), and the seat belt is fastened (made by SoBarnes with a 100% safety rating). We are off to a smooth start …
First gear: Defining the project
- Rapid assessment of skills (it never hurts), professional experience, a privileged industry.
- Level of English, Spanish, and possibly Mandarin if you want to open a restaurant in Chinatown (Los Angeles, of course).
- Excellent work-life balance - although work is very good for you, work without happiness is not
- Necessary income: No maximum limit, of course. Besides, you’re already thinking about franchising that perfume shop you’ve always dreamed of - and we are in the United States, are we not? However, the minimum limit is important: How much do you need to earn in order to avoid skimming from your reserves?
At this stage, your BARNES business broker in the United States will be able to assist you by offering a franchise or a company, guiding you through the best industries, and perhaps even suggesting that you create a new company with a customized project (the roadmap).
Second gear: Who’s coming along for the ride?
Your business broker (the real estate agent for companies), is already in the passenger seat to help select attractive businesses, to identify the best opportunities, and to accompany you during each step.
The second passenger, the accountant (CPA) who will suggest the status of the company, analyze the accounts, and advise you financially.
The third passenger, the business lawyer who will draft and negotiate contracts and leases, offer advice, and accompany you during your legal proceedings and possible license application, depending on the nature of the activity.
The fourth passenger (for the border), an immigration lawyer if you’d like to apply for an investor visa (E-2, EB-5).
Note: Listen to your business broker. He or she will also recommend which passengers are needed for the ride, and it won’t necessarily be the first professional hitch-hiking.
Third gear: A road trip into the business district
The offer is not centralized and the sites listing what’s for sale are neither exhaustive nor qualitative. It is, therefore, necessary to go on-site, following the roadmap established by your business broker. It’s possible that some companies will ask for a "proof of funds"; it’s also possible that the first round of neighborhoods will lead you to a highway of franchises that have already proven themselves in the US market, to minimize the risks.
Fourth gear: A powwow around the final blocks
In the United States, it’s necessary to agree on a price first before going through the books. In order to formalize your prize, a "Letter of Intent" is signed, which does not necessarily commit you. Then it’s time for us to audit the company and its accounts - your “due diligence” if you will - during which period you can turn back or renegotiate the price if new elements regarding the value or goodwill of the company arise. In particular, attention must be paid to the lease (this is where your backseat lawyer comes in handy): The landlord, as the proprietor, may refuse to transfer the contract to a new owner.
Finally, we have arrived at your destination. Park in the parking lot of the tower where your lawyer's office is located and sign the contract of sale. And who’s stayed to drink a glass of champagne with you at the local cafe? Your BARNES business broker, the co-pilot assisting your journey to entrepreneurship in the United States of America.
Contact our agency BARNES United States.