Hi All
Looking at a business in California that requires a construction license and I am not "qualified".
Has anyone in similar position bought a business in California where you require a construction license?
Would love to pick you brain on how you handled, any attorneys engaged to help with the process.
Any attorney or consultant recommendations who can help with the process.
Many thanks!!
Anyone bought a business that requires construction license in CA
by a searcher from University of Pennsylvania - The Wharton School
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This is typical in many states that require licensure for this or similar industries. You have three options:
1. Get qualified and come back in the future. (This can require between 2 and 8 years depending on the state and trade involved.)
2. Hire a qualifier. This is not difficult to do, but can vary in practicality based on the size of the business. In some cases am employee may be freely willing, in many cases an employee or even outside party with charge a fee for this relationship that can be fixed or a percentage of profit.
3. Negotiate to have the seller remain as the qualifier for long enough for you to become the qualifier. (For timeline required, see #1.)
While some states and trades will only require experience/time in the business, some will specifically differentiate between management and in the field trade experience.