Sell a Business for the Best Price
Selling a Payroll Auditors Business
Think payroll auditors business sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You've invested too much in your payroll auditors business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
More than a few payroll auditors business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized payroll auditors business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a payroll auditors business often begins with a family conversation and a mutual decision to move on the next stage of life.
We run into a lot of payroll auditors business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your payroll auditors business may be a waste of time.
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