The sale of any business is complicated, and selling a small, personal-service business like a farrier practice that is built around developing successful client relationships is even more difficult. A business sale is composed of two parties exchanging assets that they agree are of similar value. In this case, this usually would mean paying all cash or coming up with some type of a combination of a cash payment plus an earn-out arrangement when purchasing a farrier business.

I recently was reminded how things in the business world can change without much notice. I took my trusty old truck in for some service. When I dropped it off, my mechanic said that he had some bad news. Now, that’s scary when he hasn’t even looked at the truck! The bad news was that North Carolina had expanded its sales tax laws to include labor charges related to repairs, maintenance and installation of a number of products.

In response to numerous complaints from workers alleging they are misclassified as independent contractors, the United States Department of Labor recently issued an interpretation of the Fair Labor Standards Act (FLSA).

I've been shoeing horses for money since 1966. I've seen the industry boom and bust to varying degrees a few times.