November 11, 2019  
 
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Selling a Business

 

Selling an Asset Protection Law Firm

A good business is about more than dollars and sense. To make your asset protection law firm what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.

Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your asset protection law firm in a way that achieves positive outcomes for you and the business.

Business Valuation

Professional appraisers can use three methods to determine the value ofan asset protection law firm: The income method, the asset method and the market method. Appraisals based on the asset method gauge value as a factor of the company's real property and non-tangible assets; appraisals based on the income method consider the business's anticipated revenue. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.

Leveraging Industry Connections

There are a lot of different places to look for asset protection law firm buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.

Advertising Your Sale

Successful asset protection law firm sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing asset protection law firm sales while maintaining the confidentiality that is critical to your business.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in asset protection law firms, you might find these additional resources to be of interest.

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