What to Do When Purchasing an Existing Business in Florida

𝘛𝘩𝘦 𝘓𝘦𝘨𝘢𝘭 𝘊𝘰𝘮𝘱𝘢𝘴𝘴: 𝘞𝘩𝘢𝘵 𝘵𝘰 𝘋𝘰 𝘞𝘩𝘦𝘯 𝘗𝘶𝘳𝘤𝘩𝘢𝘴𝘪𝘯𝘨 𝘢𝘯 𝘌𝘹𝘪𝘴𝘵𝘪𝘯𝘨 𝘉𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘪𝘯 𝘍𝘭𝘰𝘳𝘪𝘥𝘢 Buying an existing business is a major opportunity, but without the right planning, it can quickly become a costly mistake. In this episode of the Cobb Cole podcast, Corporate Transactions attorney John Ferguson walks through what business owners, entrepreneurs, and investors need to know before purchasing a business. From assembling the right team—including a CPA and attorney—to identifying risks, structuring the deal, and avoiding common pitfalls, John explains how to approach business acquisitions with clarity and confidence. You’ll also learn how to prevent partner disputes, manage employee relationships, and avoid the biggest mistakes new business owners make—like trying to do everything themselves or failing to plan ahead. Whether you're launching your first venture or expanding through acquisition, this episode offers practical legal insights for business success in Florida and beyond. 📞 (386) 255-8171 📍 Offices in Daytona Beach & DeLand 𝘿𝙞𝙨𝙘𝙡𝙖𝙞𝙢𝙚𝙧: 𝘛𝘩𝘪𝘴 𝘱𝘰𝘥𝘤𝘢𝘴𝘵 𝘪𝘴 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘭𝘦𝘨𝘢𝘭 𝘢𝘥𝘷𝘪𝘤𝘦. 𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 00:00 – Introduction to John Ferguson & Corporate Transactions 00:52 – “Cradle to Grave” Business Legal Support Explained 03:02 – Rapid Fire: Key Business Advice Highlights 04:46 – First Step When Buying a Business: Planning 05:14 – Biggest Blind Spot for New Business Owners 05:22 – Why You Need a CPA and Attorney Early 06:25 – What to Expect in Your First Legal Consultation 09:03 – Why Transactions Over Litigation 10:21 – Favorite Work: Startups vs. Mergers & Acquisitions 12:37 – Building the Right Team for a Business Purchase 14:00 – Managing Employees & Internal Policies 15:52 – Biggest Mistake: Lack of Flexibility 16:40 – Preventing Partner & Shareholder Disputes ---- Serving our community since 1925 Cobb Cole has been dedicated to earning the trust of the people who live and work in Central Florida. Our firm has flourished to become the largest law firm on Central Florida's east coast. Since our founding, we’ve remained focused on providing a diversified portfolio of services so we can continually serve the needs of our growing community. For each service we offer, multiple attorneys on our team collaborate together so that you get the best service available. ---- 📞 386-255-8171 📍One Daytona Boulevard, Suite 600 Daytona Beach, FL 32114 📍231 N. Woodland Blvd. DeLand, FL 32720 ---- Watch all of our videos: https://bit.ly/3WY4XvR Like us on Facebook: https://bit.ly/3Mhb1ug Follow us on Instagram: https://bit.ly/3STJH9l Subscribe to our YouTube channel: https://www.youtube.com/@cobbcole3844... Keep up with us on LinkedIn: https://bit.ly/3YUHiPA Contact us: https://bit.ly/3AyGqG8