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Five Reasons Why Local Craft Brewers Should Love Regulation D

The RVA craft brewery scene has been quite prolific in recent years with no immediate signs of slowing down.  As these startups mature into emerging growth companies (or simply look to maintain their market share in an increasingly competitive marketplace), raising capital becomes a major topic of strategic planning and discussion.  The good news is that small business owners can pursue a variety of capital-raising strategies, and tapping into the private equity or debt market through a Regulation D private offering can be an attractive and cost-effective way of raising capital.  In particular, Rule 506(c) of Regulation D offers companies the following benefits that any local craft brewery in search of capital should be aware of:

1.  The ability to raise an UNLIMITED amount of money without having to navigate the expensive and time-consuming SEC registration process.

2.  The ability to raise money from an unlimited number of accredited investors (see the article on my website discussing just about everything you need to know about accredited investors).

3.  The ability to freely advertise your offering (social media, newspapers, periodicals, seminars, etc.).

4.  The ability to avoid most state-level securities regulation (other than notice filing and fee requirements) during the offering process.

5.  The ability to market and sell the offering yourself (without third-party intermediaries) under certain circumstances.  In some situations, however, you might want (or need) to sell through third-party broker-dealer firms to have a successful offering.

Check out the other Regulation D private offering resources available at www.ericperkinslaw.com or the Perkins Law channel on YouTube.

Polaroid Photobar–New Franchise Concept (that I’d like to see in RVA)

Were you like me and thought the storied Polaroid brand had vanished about the same time as Atari and Intellivision?  To the contrary, Polaroid lives and is  rolling out a national franchise program.  The Polaroid Photobar (www.polaroidfotobar.com) is an innovative concept where customers can instantly print high-quality photos from their smartphones and social media sites.  Outdated fad doomed for failure or creative strategy that will fill an unmet need in the market?  Time will tell, but hopefully we will see a Polaroid Photobar join the RVA franchise community in the near future.

National trade association REISA rebrands itself as ADISA–Alternative Direct Investment Securities Association

Eric Perkins served as panelist at Sunday’s Real Estate Investment Securities Association Annual Conference at Caesar’s Palace in Las Vegas. Over 1,000 leaders of the alternate investment industry attending. Lots of exciting news about Regulation D, crowdfunding, accredited investor standards, and other JOBS Act developments.

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Lobs and Lights on Saturday Night, October 25

Calling all RVA tennis fans and community supporters!  Come out to celebrate the 10-year anniversary of Lobs & Lessons on Saturday, October 25 with a nighttime glow-in-the-dark experience! This illuminating event—first of its kind for the RVA tennis community—will showcase the sport in a fun and innovative way you’ve never experienced before! Perkins Law is excited to be a sponsor of “Lobs and Lights,” which will feature a Youth Glow Zone for kids from 8:00-9:30pm and Adult Neon Tennis from 9:30pm-midnight. Plenty of other games and activities are planned as well. Visit http://www.vcuyouthcenter.org/events/lobs-lights/ for more details and to register.

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Sneak preview of discussion topic at the October 16 Catalyst Conference—How important is a strong commitment to business ethics to the success of your company?

Richmond business attorney Eric Perkins will be addressing that topic during a panel discussion titled “The Life Cycle of a Business” featuring RVA business owners Moses Foster, Melissa Ball, Rick Jarvis and Steve Rosser. Eric will share a few tips on developing a corporate culture of integrity within the workplace and offer some sobering statistics on what can happen to a business where ethical business practices are not a point of emphasis. Want to hear what it feels like to help send your boss to prison for 100 years? Then this is a panel discussion you don’t want to miss. Visit http://www.henricostrong.com for more details and to register.

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Local Franchise Owners to Share Insights at Upcoming Virginia Franchise Forum Event on Wednesday, September 17 at The Westwood Club

Interested in hearing real-life stories of the highlights and challenges of franchise ownership? Join the Virginia Franchise Forum on September 17 from 5:30-7:00pm at The Westwood Club for an interactive panel discussion moderated by Tom Lawrence and featuring some of RVA’s most well-known franchise owners: Mark Smith (Midas Mufflers), Mort Mumma (Batteries Plus Bulbs), and Bill Sroka (FASTSIGNS). Cost is $25 per person (includes heavy hors d’oeuvres and cash bar). To register call (804) 783-9314.

Perkins Law Signs on to Sponsor Catalyst and Ingenuity Conferences

August 22, 2014 – Perkins Law, PLLC has recently signed on as a sponsor of two upcoming business conferences being organized by the Henrico Economic Development Authority.

The “Catalyst” conference on October 16, 2014 is geared towards emerging growth companies interested in pushing their businesses to the next level. The “Ingenuity” conference on October 17, 2014 will focus on business startups and entrepreneurship, with programs and panel discussions allowing local entrepreneurs to network with, and learn from, local business experts.

Come visit the Perkins Law table to learn about topics such as: (i) key issues to discuss with your business partner when starting a new company, (ii) compliance issues to consider when hiring your first employee, (iii) the basics of Virginia benefit corporations, (iv) fundamentals of franchising your business, (v) how to promote (and protect) your business through a strong commitment to business ethics, and (vi) creative ways to compensate employees without giving away the company.

Both events will be held at the Cultural Arts Center in Glen Allen. For more information on these events or to register, visit the Henrico Economic Development Authority website.

Eric Perkins to Appear at the Real Estate Investment Securities Association (REISA) Annual Conference in Las Vegas

Richmond business and Regulation D compliance attorney Eric Perkins will be a panelist for a program titled “Emerging Structures in Private Placements” at the Real Estate Investment Securities Association (REISA) Annual Conference in Las Vegas, Nevada on September 14, 2014.  The session will focus on new developments in private placement offerings, including the new Rule 506(c) exemption and related regulatory issues.

Converting Your Small Business from Sole Proprietorship to LLC Easier Than You Might Think

August 10, 2014–Millions of small businesses are currently operating with no formal business structure in place–exposing the owner to unlimited personal liability and limiting future business growth and marketability in the process.  While sole proprietorships are very common and offer a tremendous level of simplicity, when one takes a holistic view and long-term approach to maximizing the value of a business enterprise, one is hard pressed to question the wisdom of converting to a business entity such as a limited liability company (LLC).  By conducting business through an LLC, an entrepreneur can reduce risk of personal liability, maximize asset protection, and come across to suppliers, lenders, potential joint venture partners, investors, and customers with a greater sense of professionalism.

The conversion process is simple, involves little paperwork, and in most cases will have not be a taxable event to the owner.  Perkins Law is pleased to offer a flat fee package for LLC startups (including sole proprietorship conversions), so if you are a Virginia business owner operating as a sole proprietor and looking to reduce your risk and take your business to the next level, reach out to us for a free brainstorming session.

 

Last Week’s Franchising Workshop a Success

August 10, 2014–The Perkins Law team enjoyed meeting a great group of entrepreneurs on Wednesday and having an interactive dialogue on all things franchising. Here’s a snapshot of what we discussed:

* Recent statistics from the franchising industry (did you know there are over 5,000 franchised businesses operating in the Richmond area?)

* Common sources of franchisee failure.

* Helpful local resources for assistance during the franchise selection, investigation, and startup process.

* Key provisions of the Franchise Disclosure Document and what to really look for.

*How federal and state laws regulate franchising and why.

* How the franchise recruiting and sales process works.

* Personality traits of successful franchisees.

These and other topics, including questions from the audience, were covered. The next Perkins Law franchising workshop will be a half-day Prospective Franchisee Boot Camp on Friday, October 24, 2014 from 8:30 – 11:30 am. Contact us for more details or to sign up.