| If you are deciding to sell a business, it is very | | | | accountant to disclose his fees prior to his |
| important to familiarize yourself with some of the | | | | involvement. |
| hidden cost involved. Many times business owners | | | | *Business Brokers - If you are not selling your |
| go in to a sale head first without testing the | | | | business privately and are using a business broker, |
| waters, resulting in them with a bill at the end of | | | | please be aware that business broker fees can be |
| the negotiation process. | | | | as high as 10% of the final sale price. |
| It is safe to say that these unexpected fees will | | | | *Any accounts payable |
| be deducted out of the equity of the sale of the | | | | *Payment of any outstanding loans, leases, |
| business, dramatically decreasing your profits. | | | | contracts, etc |
| Please find below some of the most common | | | | *Cost of bringing the business up to speed |
| expenses over looked when selling a business: | | | | (repairs, refurbishments, etc) |
| * Cost of Solicitor - If you do not have your own | | | | Selling a business can be a traumatic time in your |
| Solicitor or Lawyer, ask family and friends if who | | | | life. Watching a business that you built of and |
| they use for their legal matters. Usually finding | | | | developed being sold to a total stranger can be |
| legal assistance via a referral from a friend can | | | | quite emotional. |
| sometime lead to a discounted bill at the end of | | | | The last thing you want is to be hit with additional |
| the day. | | | | fees at the end of the sale. Making sure your |
| *Cost of Accountant - If you need the assistance | | | | business is ready to sell is very important, and |
| of your accountant, he will usually deduct his fees | | | | being unprepared can lead to the loss of the sale. |
| from the final transaction. Always get your | | | | |