A buyout offer on your business can be exciting. Sometimes, it means that your little start-up has attracted enough attention to be valuable -- in which case, the buyout offer can be a lucrative opportunity that you don't want to miss. In other cases, buyout offers can take you off guard (and may not be so welcome).
Here are some different types of buyouts that can be on the table:
If you're planning to go into the construction business, you may be considering buying a franchise. Franchises can offer advantages to people who want to run their own business but would like the cache of a brand name behind them and the assistance that a franchise organization with a proven business plan can offer them.
However, as one construction business coach points out, the construction industry is very different from the fast food industry, where franchises abound. You're not going to be selling foot-long sandwiches or hamburgers. Each job is going to be unique.
Being a business owner in California means staying up-to-date on our ever-changing labor laws. Every new year brings a number of new laws that give California workers greater rights and benefits than people in most other states. This year is no exception.
Recently, we discussed a new law impacting how independent contractors are classified. That's just one of a number of labor laws that took effect on Jan. 1. Let's look at some key changes that construction business owners need to follow:
Labor contracts have been the backbone of vital trust between employers and workers for a century or more. Protections vary by state, as many governments have different histories with different industries that require various levels of protection for both companies and employees. California has long prided itself on attracting some of the best talent in the country with the protections to match.
The new year brings a new law from Sacramento that requires employers of large numbers of freelance workers to offer the traditional employment protections previously reserved for career employees hired under traditional contracts. But two large companies with extensive operations in the Golden State have already sued to prevent the law from taking full effect.
California contractors and builders know all too well how a simple construction defect claim can completely ruin their businesses. Building and construction professionals need immediate assistance to contain the possible fallout defect claims can cause. While there are many legal strategies lawyers can use to defend their workmanship, you may also want to consider using expert testimony to strengthen your case.
Expert witnesses can help you build a solid case in construction litigation cases centered on defects. However, because there are so many expert witnesses available to testify, many contractors are not sure what kind of testimony they need. Below, you will find a list of experts that can help sway a court to trust in your side of the claim.
It often seems as if everyone in the U.S. suffers from anxiety about unfair treatment when entering into an agreement or contract with another party. In particular, professionals in the construction industry often experience an unexpected threat of litigation over something that may not be their fault.
Many people automatically assume that construction contractors are only out to make money and are willing to lie or cheat to pad their wages. We know that this is not normal or even acceptable behavior on the part of contractors here in California. Most of you strive to operate your businesses honestly and fairly. With this in mind, it is safe to say that the last thing you expect is for your clients to initiate contract disputes in a legal setting.
New businesses have been the heart of California since it was founded, although the needs of the citizens and the available resources have changed a bit in modern times. One thing has not changed, however, and that is the need to plan what a business needs and how its assets are deployed to build its future.
Sometimes, you have the start from the basics with a template business plan. These documents can be helpful when founders need to think about early priorities with a little bit of help. In some cases, initial business plans may be made entirely with resources like templates.
A contractor promised work and never came through. A supervisor keeps making inappropriate comments and no one will do anything about it. It feels like the only option is to sue the responsible parties in California civil court. But then you find your contract requires you to rely on arbitration.
Fortunately, that conclusion's days are numbered. The government in Sacramento recently passed Assembly Bill 51, so clauses like this in employment contracts will be illegal starting with the beginning of 2020. The clause added to the California Labor Code by the bill prevents employers from making forced arbitration a condition of employment.
California's economy has always been a large and complex entity, and it supports millions of people in hundreds of industries. One level of the economy, often called the "gig economy," is a big part of how people get into and move up through the many jobs that are available.
But freelance and temporary employment are more than they once were. These arrangements used to cover work that would wrap up quickly or employees who needed help entering the job market, but state officials in Sacramento have become concerned employers were using gigs to keep employees from claiming benefits.
Do you know what moves the Golden State forward? The economy has gone from producing gold to agriculture to almost everything. So, is there one factor that matters most? It appears that housing is not only the greatest promise in California's economy but also the greatest need.
"We have to address the issue of production in the state of California," the governor said, adding a colorful phrase for emphasis. "We need to build more damn housing."
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