Business Exits By Industry
Selling a Consumer Protection Attorneys Business
Most businesses are susceptible to economic conditions and consumer protection attorneys businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
The decision to sell a consumer protection attorneys business is never easy. But have you considered how your customers, vendors and employees will handle the sale?
The economy hasn't squashed the market for consumer protection attorneys businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
When the Sale Goes Off-Course
Many consumer protection attorneys business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your consumer protection attorneys business is priced out of the market. Hire a broker and conduct a professional appraisal ASAP.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. Although you might think you're ready to exit your business, selling and separating from a consumer protection attorneys business scan stir up a range of emotions. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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