Is it Time to Sell Your Business?

Is it Time to Sell Your Business?

Is it Time to Sell Your Business?

Selling a business is a huge decision. If you have built something from the ground up, the decision may be just as emotional as it is financial. That said, selling your business can provide financial and personal freedom and allow you to engage in other pursuits.

There are a lot of factors involved with determining whether now is a good time to sell a business. You should consider things like how your industry as a whole is doing, interest rates on debt financing, how your business has been performing in recent years, and how you expect your business to perform in the future. Furthermore, there are personal considerations – are you ready to sell? Have you achieved your financial goals? Are you just burned out with it? The answers to these questions will help you determine whether you are ready to sell.

If You are Considering Selling, You Need to Talk to a Lawyer

Selling a business may be the biggest financial decision you make in your lifetime. For this reason, you should protect your legal rights and your future by discussing your plans with a lawyer.  An attorney can advise you on a number of issues related to selling your business, including:

  • Required filings
  • How to distribute profits
  • Handling business debts
  • Managing records
  • How to manage open accounts
  • Preparing the business sale agreement

In addition to handling the legal aspects of selling your business, an experienced attorney can also represent you in negotiating the terms of the sale. In many cases, having an uninvolved 3rd party negotiating on your behalf can make the process go more smoothly and result in a better outcome.

Discuss Your Option with a Business Lawyer in Houston

If you are considering selling your business, it’s in your best interest to discuss your situation with an experienced Houston business attorney as soon as you can. To schedule a consultation with Tim Sutherland, call 713.300.1946 or contact us online today.