The buzz in the marketplace is that now isn't the right time to sell a detective agencies business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
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Yet everyday, hundreds of listed detective agencies businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Team-Based Negotiation Strategies
Even if you hire a business broker to facilitate the sale of your detective agencies business, it's likely that you will be the front line negotiator. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your detective agencies business.
It's impossible to predict the emotional highs and lows you will experience during the sale of your detective agencies business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a detective agencies business sale by setting realistic expectations before you list your business.
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your detective agencies business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
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