Considering Retirement and a Sale of Your Business by Lisa Baue

If you are considering retirement, I suggest a great book to read before you decide written by Ernie J. Zelinski. It is recommended that you read this between 5-10 years before you make a decision to retire. If you find yourself ready now, it’s still a great read. Enjoy!

I always suggest to clients that are considering selling or acquiring another firm to carefully research any broker/consultant firms before they sign an agreement with them to help you.

Here are my top 10 questions for you to ask before you decide on who is best to represent you:

  1. What % of the sale will they charge you and what is it based on?
  2. Can they show you good samples of sales packages they have put together for other clients?
  3. Are they willing to let you talk to other customers they have helped in the last 5 -7 years with similar types of transactions?
  4. Do you know that some brokers also receive a stipend from some of the larger corporate buyers and sellers? Be sure to always be in the know on this, as you want someone to represent you and you only for the best options both public and private.
  5. Are they able to advise you about the changes you need to begin making before you are ready to sell?
  6. What is their background in running, owning, or operating a funeral service company your type and size?
  7. What background do they have in evaluating real estate in addition to your business stock and values?
  8. Do they have experience in cemeteries, discount companies, or pet businesses, and how to value them?
  9. What is their hourly rate/ consulting fee if you decide not to sell or buy to work with you on how to improve your current business?
  10. Do they care more about you becoming a successful operator or retiree, or is it all about their fees to convince you to sell?

I also always suggest that you meet with your top two brokers in person before you make a final decision. Have them come to you, tour your facilities, meet you, and learn more about your community.

Lisa Baue