Legal Question in Business Law in Missouri
I am looking into buying a business that teaches classes to children. Many people pre-enroll for classes up to a month or two in advance. These enrollments will take place while the current owner is still in place. However, the enrollments will go towards classes that I will be teaching and paying employees to teach. How is the enrollment revenue split between the previous owner and new owner?
Asked on 10/12/10, 2:13 pm
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
Any attorney will say it depends on how the contract of sale for the business addresses this issue. It's strictly a matter of negotiation, so consult with a good business attorney in your area for specific advice and help drafting the sales contract.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
Answered on 10/18/10, 7:56 am
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