Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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To sell a constables business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Emotions run high during the sale of a constables business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Most constables business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
It pays to invest in first-rate legal counsel when you sell a constables business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your constables business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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