What Is The Process For Buying Or Selling A Minnesota Business?

Buying or selling a Minnesota business usually comes down to five things: price, what’s included, what liabilities transfer, how payment works, and what can blow up the deal before closing.

Most transactions follow the same path. The parties gather the key financials, tax returns, contracts, leases, and negotiate the real deal terms like working capital targets, holdbacks/escrows, indemnification, rollover equity, and transition services. The buyer lines up financing and confirms the structure of the deal (asset sale vs. stock/membership interest sale). Then the buyer does due diligence to verify the numbers and find risks like unpaid taxes, contract problems, employee issues, or lease restrictions. After that, the purchase agreement is drafted and negotiated, closing documents are signed, money changes hands, and the ownership transfer gets documented properly.

This is general information, not legal advice, but a good lawyer matters because the right counsel doesn’t just “paper the deal," they help keep the transaction clean, protect the relationships, and make sure everyone walks away satisfied enough to keep doing business.