Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
(article continues below)
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to custody and support law attorneys businesses that exhibit strong financials and potential for future growth.
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. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Timing Your custody and support law attorneys business Sale
When is it the right time to sell your custody and support law attorneys business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising custody and support law attorneys business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the custody and support law attorneys business marketplace. With fewer custody and support law attorneys businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
Leveraging Industry Connections
These days, custody and support law attorneys business buyers are an extremely diverse group with backgrounds in and outside of the industry. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Ready to learn more? You may find these additional resources to be of interest.
If you plan on opening a custody and support law attorneys business, these guides will help you get started:
If you consider custody and support law attorneys businesses to be sales prospects, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.