Sell a Business Tips
Selling a Small Business Planning Attorneys Business
Over the past few years, the small business planning attorneys business market has been exceptionally volatile. Here's what you'll need to know to sell a small business planning attorneys business during challenging economic times.
When it comes to selling a small business planning attorneys business, there are no shortcuts to success.
At Gaebler, we're seeing small business planning attorneys business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Selling Time
It's rarely possible to sell a small business planning attorneys business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your small business planning attorneys business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Sweetening the Deal
Today's small business planning attorneys business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in small business planning attorneys business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful small business planning attorneys business sales. Take our word for it -- small business planning attorneys businesses are unique businesses and you need a broker who understands how to properly market your small business planning attorneys business to prospective buyers. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
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