Understanding Licensing Requirements

When considering the purchase of a licensed business, it's crucial to understand the specific licensing requirements in your jurisdiction. Each state or province may have different regulations governing who must hold a license and how ownership of the business ties to licensed individuals. For instance, in New Jersey, license holders must own a portion of the business, whereas New Hampshire has different rules. Understanding these nuances can significantly impact the viability of acquiring a business in trades such as plumbing or HVAC.