Business Life Cycle
All businesses follow a general predictable cycle, otherwise known as the Business Life Cycle. Consequently, Pritchard Law Offices has tailored strategies for whichever phase of this cycle you currently find your business in. This cycle begins like all cycles in the formation stage, where businesses must invest their time in developing a successful strategy to initiate growth. This stage is typically followed by a period of rapid growth, which requires constant adjustments to counter new challenges. Eventually, businesses will reach a phase of maturity where actions must be taken to avoid stagnation. During this stage it is also crucial to being planning for the last stage, where the business must transition to new ownership through a succession or sale. Pritchard Law Offices is regularly involved with businesses in each phase of this cycle, below you can see how our services relate to this cycle and promote prosperous outcomes.
Entity Formation is one of the most crucial steps in starting a successful business. Pritchard Law Offices’ lawyers vast experience in this area and their history in accounting will help launch your business on a successful trajectory for years to come. We are intimately familiar with the processes of selecting the correct entity type and completing the rigorous documentation required to establish your future business. Along with the on paper requirements, you may also need buy real estate or initiate new financing and contracts.
After entity formation, Pritchard Law Offices is prepared to assist you and your company will all future legal needs including; mergers, acquisitions, and succession estate planning.
Financing is a critical step in both the formation and growth stages of your business. When businesses are growing and/or starting up large amounts of capital are required. Our advantageous relationships with local banks, allows for PLO to negotiate the best possible terms for your financing needs. Pritchard Law Offices’ experience has proved to benefit our clients, protecting them from unnecessary clauses drafted by banks that would have caused strains on their businesses.
Part of the daily operations of all businesses, contracts are a tool that provide written agreements guaranteeing services or other commitments, that will either help your business grow or secure revenue for your business. Pritchard Law Offices is always prepared to fulfill your contracting needs, whether drafting, reviewing, negotiating, or finalizing, our expert lawyers will promptly handle all phases of this process.
PLO regularly executes contracts in various fields including real estate, employment, services, formational, licensing, insurance, construction, and leasing.
Real Estate is important in any phase of the business cycle, to promote growth. Expanding businesses usually requires buying properties, which can be utilized for many purposes. Pritchard Law Offices regularly guides its clients through real estate transactions, our experienced lawyers are skilled in streamlining these processes to efficiently provide for their client’s needs. PLO can help your business in all areas of real estate transactions, including; buying, selling, and leasing real estate, securing transactions, and aiding our clients through due diligence proceedings.
Mergers & Acquisitions
Often to perpetuate growth businesses must expand through a merger or acquisition. Customarily, this type of action takes place during either the growth or maturity phases of businesses. One of Pritchard Law Offices’ major strengths lies in their recent experience in the areas of mergers and acquisitions. Having recently sold several businesses including a multi-million-dollar distribution company, as well as various construction and service companies, Pritchard Law Offices is exceedingly prepared to fulfill all your needs as you grow or sell your business.
Pritchard Law Office is capable of deftly guiding you and your business through the entire process of an acquisition or sale: evaluation, negotiation, due diligence, financing, and implementation.
Succession Planning or Sale
During the maturity phase, businesses should begin the process of planning for a future successor. Business owners face the options of succession or sale as they reach retirement. As a multi-generation family business, PLO understands the obstacles facing businesses in ownership transition periods. Pritchard Law Offices has also completed several successful succession plans and sales with its clients and brings in-depth knowledge to the table in these proceedings.
We collaborate with bank, tax, and insurance professionals to best coordinate this complicated process.