In a down economy, many public accountants business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of public accountants businesses that are actually for sale.
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However, serious buyers also understand the value of a good public accountants business. Financial statements and ROI are essential in converting modern public accountants business prospects into buyers.
Preparing Family Members
Many sellers embarked on their public accountants business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. The decision to sell a public accountants business has to include ample communication and shared decision-making.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Handling Unexpected Outcomes
If you're smart, you entered your public accountants business with a set of assumptions about what it would achieve. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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