Jeff advised business owners to do some preparatory work if they are considering selling their business. Ask yourself questions such as:
- Are you prepared financially to move on to another business?
- Why are you leaving (sickness, retirement, etc)?
- Are you leaving/selling it to a family member?
- Will you work as a contractor or employee for a while?
- Is the business profitable enough to be attractive to a buyer?
- What will you do with the money from the sale?
- Will it be a lump sum or paid over time?
Don’t neglect to get the advice of other professionals such as a corporate attorney, accountant, business broker, and estate planning attorney before the sale.
Give Jeff a call whenever your business needs helps with legal matters.