October 1, 2020  
 
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Selling a Legal Forms and Supplies Business

Most businesses are susceptible to economic conditions and legal forms and supplies businesses are no exception. But in some cases, a down economy can actually improve saleability. Now all you have to do is convince the right buyer that your business is built for long-term success.

Business buyers face their own set of frustrations and complications. There are lots of buyers who want to own a legal forms and supplies business, but have limited capital to get their foot in the door.
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Yet everyday, hundreds of listed legal forms and supplies businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.

Tips for Working with A Business Broker

Business brokers are professional business sellers. It's typical for legal forms and supplies business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.

Pre-Sale Checklist

The pre-sale checklist for a legal forms and supplies business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

Sweetening the Deal

Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your legal forms and supplies business. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young legal forms and supplies business owner, they can be critical launching points for their ownership journey.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Legal Forms and Supplies Business

Pros and Cons of Using Business Brokers


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It's tough to cover everything there is to know about how to sell a legal forms and supplies business in a single article. If you have any additional comments or questions, please let us know.


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