Exit Planning Advice By Market
Selling an Attorneys' Support Service
The decision to sell your attorneys' support service isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
The attorneys' support service-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a attorneys' support service sale. To improve sale outcomes, you will simply need to tailor your attorneys' support service to today's buyers.
Working with Appraisers
An experienced appraiser is part and parcel of a successful attorneys' support service sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Understanding Market Timing
Now may be the best time to sell an attorneys' support service. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on attorneys' support services. When the economy recovers there will be more attorneys' support service buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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