Advice on Niche Market Exit Planning
Selling a Trial Attorneys Business
Is the economy still a little shaky for a business sale? Sure it is. Yet trial attorneys businesses haven't been deterred. In fact, we think this economy is a ripe environment for a trial attorneys business sale.
Like it or not, a trial attorneys business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. But have you considered how your customers, vendors and employees will handle the sale?
You'll always have an excuse for not putting your business on the market. Selling a trial attorneys business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your trial attorneys business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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 trial 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 trial 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.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the trial attorneys business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling trial attorneys businesses.
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