Business Exit Planning
Selling a Media and Communications Law Attorneys Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a media and communications law attorneys business sale. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your media and communications law attorneys business on the market.
You won't find any magic formulas for selling a media and communications law attorneys business, especially while the market is struggling to overcome the perceptions created by a down economy.
However, serious buyers also understand the value of a good media and communications law attorneys business. Financial statements and ROI are essential in converting modern media and communications law attorneys business prospects into buyers.
Equipment and Inventory Concerns
Buyers typically perform an independent appraisal of your media and communications law attorneys business's real assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your media and communications law attorneys business.
Post-Sale Details
As your media and communications law attorneys businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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 media and communications law attorneys business. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your media and communications law attorneys business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Share this article
Additional Resources for Entrepreneurs