February 18, 2020  
 
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Selling an Income Tax Consultants Business

You've learned a lot during your tenure as an income tax consultants business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.

The income tax consultants business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
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There is no simple way to sell a business. But the most prepared income tax consultants business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.

Post-Sale Details

As your income tax consultants businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.

Seller Financing

Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized income tax consultants business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.

Average Timeframes

From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their income tax consultants business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare an income tax consultants business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.

More Exit Planning Articles

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

Entrepreneurial Exit Strategies

Marketing an Income Tax Consultants Business

Pros and Cons of Using Business Brokers


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