Business Exits By Industry
Selling a Computer Consultants Business
Your computer consultants business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a computer consultants business, capital restrictions are holding them back.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your computer consultants business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. Not surprisingly, seller financing is routinely requested by today's buyers. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. Professional business brokers understand buyers and know how to properly communicate a computer consultants business to the marketplace. Financial statements, appraisals, operations manuals and other documents lay the foundation for your computer consultants business sale, creating incentives for prospects to agree to a higher asking price.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your computer consultants business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
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