An assortment of hurdles and obstacles stand between you and the successful sale of your legal copying service.
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Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your legal copying service.
Selling a Legal Copying Service to an Employee
There are both benefits and drawbacks to selling a legal copying service to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Sale Preparations for Your Legal Copying Service
The outcome of a business sale is largely determined prior to a market listing. Profitable legal copying service listings are the culmination of a preparation process that began months or even years ahead of time. Even though it may take years to adequately position your legal copying service, the amount of preparation you perform will have direct correlation on asking and sale prices. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
An experienced appraiser is part and parcel of a successful legal copying service sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
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