Sell a Business Tips
Selling a Security Guard and Patrol Services Residential Business
A lot can go wrong during the sale of a security guard and patrol services residential business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a security guard and patrol services residential business.
The business-for-sale market is extremely dynamic. That's why we think it's important for security guard and patrol services residential business owners to know that it's possible to sell a business in any economy. You just need to know your buyers and structure the deal accordingly.
The Emotions of a Business Sale
There is no easy way to say goodbye to your business. You probably have good reasons for selling your security guard and patrol services residential business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
Working with a Professional Accountant
Accountants come into play at several stages of the sale process. Before your security guard and patrol services residential business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. It's not unusual for a security guard and patrol services residential business sale negotiation to reach an impasse over price or other concessions. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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