Thanks for the info. I do understand the S corp and LLC organizations. In fact we ahve 2 other businesses that are structured as LLC. We structured the main business in 1995 as a C Corp with the desire to go public and we were on the road when 9/11 attacks stopped our growth and our invesor got nervous. We had 50 stores nationally and growing but hey were akll in start up and did not survive without the additional capital.
Our comapny is a south east custom installation business making 2.5-3 M annually. We have 5 shareholders not evenly divided. Four of us work in the business and one is a divorced spouse. Our assetts include securioty monitoring contacts, a condo in a resort area, trucks, tools, hugh high end custorer list, brand name, etc. We have put out some feelers and think we could get about $1m for the assets. In the Atlanta market we are in the top 3 in recognition and revenue and many of our competitors went out of business in the past 4 years. With the economy hopefully growuing again, we hope to push revenues to $10 and be able to sell the assets for much more than the $1m. I am 61 and the other major dhare holder who I starte the business with is 56. We would like to make a final push for 3-7 years and sell.
Given our experience in making a few small acquisitions (failing business like ours) over the past 3 years, I am sure when we sell it will be an asset sale not a company/stock sale.
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