Exit Planning Advice By Market
Selling an Appeals Attorney Firm
Looking for shortcuts? You won't find them when you sell an appeals attorney firm. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
An assortment of hurdles and obstacles stand between you and the successful sale of your appeals attorney firm.
Most appeals attorney firms are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your appeals attorney firm. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your appeals attorney firm. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell an appeals attorney firm without outside assistance. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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