More than purchase price or structure, time is the most likely reason a business sale will fail. Time breeds frustration and fatigue. From irascible attorneys to disorganized brokers and licensing issues, plenty of factors can bog down a deal.
Sooner or later one party or the other gets fed up and rationalizes, “It wasn’t meant to be.”
Your advisor should have a reasonable client load (no more than four or five is ideal) so they can give you the time and energy you deserve. Look for an office with a manager dedicated to closing details. You need someone organized and proactive, looking several weeks and months in advance.
For advice on exit planning or selling a business, contact Al Statz, CEO of Exit Strategies Group, Inc., at email@example.com. Exit Strategies Group is a partner in the Cornerstone International Alliance.