Letter of Intent
7:43 PM | Author: Eric Tuin
So as I go along this process of acquiring a company I am learning a lot about how this whole thing works. I'm sure it will be information that is not used much in the future but I guess it is good to learn about anyway. I guess many things in life we learn once and then may not ever use again but that doesnt mean that it wasnt worth learning. So the "letter of intent" is mostly finished and we are getting one step closer to having an actual sale of the branch.

At first I thought that this letter was going to be a big thing but really its just a formallity it seems and really doesnt say much other than the basic idea of the sale of the comapany...that everyone is going to play nice and be respectful. I guess that's how the attorney's make their money by being the teacher on the playground, keeping you out of the principle's office.

The next step in this process is for me to get a lot of loan stuff done and finish up my business plan. We are going away to Glenwood this weekend so maybe I'll have a little time to put into more writing. I was wondering if I could just write my plan in Blog and just refer them to a few posts....probably not.
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1 comments:

On 5:14 PM , Toevs Family said...

So, what's the latest now? Where are you in the process? I am curious. :-)