Optimizing Business Exits
Selling a Risk Management Consultants Business
Planning and execution can dramatically influence the price you receive for your risk management consultants business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
The economy hasn't squashed the market for risk management consultants businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your risk management consultants business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your risk management consultants business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. Without an accurate assessment of asset values it's impossible to intelligently negotiate on 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 risk management consultants business.
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