Exit Planning Advice By Market
Selling an Agricultural Law Attorneys Firm
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet agricultural law attorneys firms continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Dire economic forecasts have forced many agricultural law attorneys firm sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Most agricultural law attorneys firms are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy agricultural law attorneys firms. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
As your agricultural law attorneys firmsale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your agricultural law attorneys firm. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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