A lot of business owners rush into the selling process, without proper preparation before listing their business for sale. Here are the mistakes you can avoid when working with Gallagher & Krich, APC.

Bad timing
Decide when you want to sell your business and prepare it for that moment. Put your financial documentation in place, make sure your business is profitable, and deal with staff,
lease or any other legal issues.

Aversion to hire professionals
You might think you save money, but you actually give up all the benefits professionals – brokers, lawyers, financial consultants – can offer:

  • Prepare and run the sale process, from the financial and legal point of view;
  • Mitigate the risk of misrepresenting your business;
  • Maintain strict confidentiality – if the word gets out, the sale will negatively affect your employees, but also sales.

Rushed valuation process
Setting the price, before evaluating your business, increases the risk of being disconnected from the real market prices. Let the professionals conduct a thoughtful valuation and provide you a competitive position in the market.

Refuse pre-qualification of buyers
Sensitive information about your customers or pricing strategy might get in the wrong hands. Lawyers protect you with non-solicitation and confidentiality provisions and check the viability of potential buyers.

Failure to plan the transition process
Get your energy! The transfer work could take, on average, a few months. Also, there are forms and papers to be filled in: to announce the state about your withdrawal, to stop paying any future taxes, and to inform your partners and clients about the change.

Play smart if you want to sell your business. Contact us today!

Client Reviews

6/27/18, FindLaw.com

Rated 5 out of 5

We received a letter from an attorney representing an ex employee from years ago. This letter couldn’t have come at a worse time for our family. Although the ex-employee had no substance in their case and this was mostly a nuisance, we felt very vulnerable and unprepared. I reached out to a few lawyers for a quote and their retainer fees alone were deal breakers. When I reached Thomas Gallagher, he approached my case from a completely different angle and walked me through the many small steps we would take to get through this issue. Within the first conversation I felt like I had a plan of attack, an attorney I could trust, and that our family was protected. Our case ended up never going to court. In fact, Thomas was able to resolve the entire issue within a week. I am extremely happy with the results from this potential lawsuit, but even happier knowing my family and business is now protected by a lawyer than can get the job done.

anonymous

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Contact Gallagher Krich, APC

Fax: 858-435-4369

30+ years of combined experience.