Legal Question in Business Law in Pennsylvania

go out of business

I own a business for almost 7 years. My doctor told me for my health(back) I need to change professions. I cannot hire anyone, have had the business with 3 realtors in the last 3 1/2 years, have reduced the price as low as possible. How do I get out of business??????


Asked on 12/05/08, 11:55 am

1 Answer from Attorneys

Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: go out of business

You asked about going out of business.

It's hard to give you an answer to that question without knowing what type of business. Realtors are in the business of selling property and are not equipped to sell businesses. After all they only understand the value of the real estate and not the other parts of the asset.

Take the property off the real estate market and find a business broker. In many cases there are business brokers that will specialize in you particular business, whether that business is a carpet store, a grocery, or a bodega.

A business broker can best market the business to find someone who understands the business needs, the assets and liabilities, and even the psychological aspects of prospects.

Do some research and don't stop until you find a broker who is interested in taking a percentage of the value of the ongoing business to secure a sale.

Regards,

Roger

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Answered on 12/07/08, 12:08 am


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