Selling Your Business
When selling your business, most owner’s first move is to go see a business broker; but is that really the best option? A business broker is much like a real estate agent, but without a license. Unlike real estate agents, in Missouri, there is no license requirements in order to become the broker of a business.
When you hire a broker, you’re going to give up at least 10% of the sales price as a commission. This is the typical fee to have someone post your business for sale online and become your middleman in the sale. Some of these brokerage companies even off you use of their “impartial” attorney whom will draw up the acquisition paperwork for you; for an additional fee of course. Do not use an attorney who will give you a pre-printed form that doesn't have your business and personal needs in mind. You need an attorney that is willing to draft an acquisition agreement that is in your best interest, not the best interest of the buyer.
Howard Law has attorneys that are not only experienced in drafting acquisition agreements but also have extensive backgrounds in business as well. Why not hire an attorney who can not only keep your best interests in mind while drafting the documentation but also has a knowledgeable background in business and experience in tough negotiations; all the while saving money.
Howard Law can facilitate the sale of your business by listing your business for sale, interviewing potential buyers, verifying these buyers are qualified, negotiating the deal and drafting the acquisition. We will be able to provide all of these services and it will be cheaper than hiring a business broker.
Howard Law will sell your business on a contingency fee basis, meaning if we don't sell your business, we don't get paid. Like business brokers, our fee is a percentage of the sale. Unlike business brokers our fee is only 5% of the sale price instead of the normal 15% or more you will see brokers in the industry charging.
Example 1: Business sale price of $250,000
Example 3: Business sale price of $1,000,000
Example 2: Business sale price of $500,000
Example 4: Business sale price of $1,500,000
*Howard Law’s fee will be 5% of the sale price.
**Prices will vary depending upon the complexity of the sale.
Contact Howard Law at (314) 325-9868 for a free consultation about selling your business.