KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** Comment on How long should it take to sell my alarm company July 25, 2024 ************************* Comment on How long should it take to sell my alarm company from article on July 11, 2024 ************************* Ken, In response to the inquiry, “How long should it take to sell my alarm company?” I would say that is most often determined by the seller, not the buyer. Alarm Financial Services has been involved in hundreds and hundreds of acquisitions over the last four decades, as lender, buyer, seller and as advisor to buyers and sellers, and our observation is that many companies are not ready to sell when they decide to sell. The owner may be ready mentally and emotionally, but not logistically. Often they have not prepared the performance reports, financial statements, contracts (of course) and other information a buyer wants to see in order to make a fair offer and move quickly through the due diligence process. We are always happy to talk with dealers who are unsure what information they need to prepare for a sale And the bonus, even if they do not sell right now, the exercise of analyzing their company will result in day-to-day business improvements. As always, thank you for proving this important forum. Jim Wooster, Jr Alarm Financial Services, Inc. 866-845-2678 ext 1200 415-509-4750 cell jfwooster@alarmfinancialservices.com www.alarmfinancialservices.com *********************** Response *********************** Sellers who aren’t ready do come in several varieties:
· Really not emotionally ready to sell or complete the transaction
· Records in such disarray that they are not prepared to respond to any due diligence requests
· Extraneous circumstances such as liens, debts or other issues that would compromise a transaction
Sellers and buyers are often perplexed by the due diligence process, which surprises me. Alarm Financial Services does provide a valuable service regarding assisting with due diligence, for either party. It’s often a laborious taste when sellers aren’t organized or have time to cooperate, or buyers are [in my opinion] completely unreasonable in their investigation, asking for information that is simply irrelevant to a buyer owning the accounts. K&K will broker and will represent seller or buyer but rarely gets involved with due diligence except in limited ways of reviewing form agreements used by the seller. K&K also will know how to properly structure the deal within the constraints of the wishes of the parties. For assistance with due diligence and financing call Jim Wooster. ****************** STANDARD FORMS Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com
