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Transcript:
00:00:00 – 00:01:17
hello this is Tony Lou I’m a business delegation attorney here at Focus law today’s video topic is what should I know before I sell my business now are you thinking about selling your business whether this is something that you have planned for for years or a decision that’s driven by recent circumstances selling a business is a major Financial illegal transaction the process can be complex and the choices that you make now will determine whether or not uh you maximize the value or leave the money on
00:00:48 – 00:02:09
the table before you list your business for sale here are the most important things that you need to consider one are you ready to sell first as ask yourself why do you want to sell your business are you burned out and ready to walk away and turn the page for the new chapter now is your business not profitable as you had hoped is that the reason why you’re selling the uh business you have personal or family obligation that Mak it difficult to continue running the business or you just doing through a temporary rough
00:01:30 – 00:03:07
patch and you might recover from later on many business owner regret selling because uh they made a decision too quickly without fully understand the options so before selling consider this could you delegate the tax to reduce uh your workload instead of selling could a strategic partner or investor help you grow the business rather than exiting completely selling business is not just about numbers it is an emotional and strategic decision make sure that selling uh for the right reason knowing your business True Value many business
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owner have an emotional attachment uh to their company making it difficult to assess the real market value so what is your business actually worth the only way to find out is through a professional business uh valuation and independent valuation uh May reveal the hidden strength and even the weaknesses in your company that you haven’t foreseen previously you might think your business is worth far more or far less than what the market will actually pay and the goal understand your position the fin
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financial position to be exact before you negotiate with the buyer the last thing that you want is to enter into a discussion uh with unrealistic expectation third who is your ideal buyer find a right buyer can be just as challenging as deciding to sell who might buy your business a competitor looking for uh the expansion the key employee who want wants to take over how about a family member who wants to keep on the business Legacy alive or you just need a business broker to Market and sell it to
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uh outside third party buyer does the buyer have the resources to afford your business many deals fall apart because the buyer just doesn’t have the financing needed to uh purchase and acquire the business now selling seller financing is an option of course but it comes with its own risk careful vetting your buyers to ensure a smooth transaction and make sure they are profitable as well or uh is the legal and financial consideration before final finalizing a sale protect yourself legally and financially working with
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experienced business attorney or tax attorney they to craft the sales agreement uh to ensure all legal protection are in place reveal any outstanding liabilities debts lawsuits uh or contracts that could impact the sales understand your tax obligation right either CPA or tax attorney can do this for you analyzing your tax obligations uh after you sell your business now selling a business has a major tax implication and that must be planned uh in advance the lot things that you want to uh happen when you sell your business
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is to face the unexpected legal claims or financial setbacks down the road final thoughts selling a business is one of the biggest financial decision you’ll ever make whether you are ready to move on or just exploring your option having the right legal and financial strategy is crucial if you are considering selling your business let’s talk our firm help business owners navigating the legal complexities of selling a company ensure you get the best deal while protecting your business interest call
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us today for a confidential consultation and let’s make your business sell a secet
This transcript was AI-generated.
