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 ****************************** More on when is it time to sell April 22, 2025 ************************** More on when is it time to sell ************************** When to sell your company or alarm accounts has many different answers with various issues dealing with all kinds of issues; so the time may be illusive, which is why so many struggle with the concept of selling and retiring. But while the answer to when is it time to sell has many answers, there are far fewer answers to the question of when is it too late to sell. Too late is not a pretty picture; of course you will be at the mercy of potential buyers. Rare is the business that is backed into the corner and has to sell that is in the driver's seat and in position to cause a bidding war and get the best and highest price. Business owners know when it's too late to sell; they know they over played their hand and waited too long. Some get out so late they need to resort to bankruptcy relief. That will usually lead to liquidation with the owner ending up with nothing. You've all heard of Chapter 11 [and now Chapter 5, similar to Chapter 11 for small businesses]. Trouble is that if you can't work out a Plan in either Chapter 11 or 5 you end up in Chapter 7, liquidation, a procedure you tried to avoid when opting for Chapter 11 or 5. The problem with Chapter 11 and Chapter 5 is that they are expensive procedures. A business that is struggling isn't going to have the resources to survive in Chapter 11 or 5. The professionals who are required which the business needs to pay while in bankruptcy proceedings will add so much additional expense and debt suggesting it's like salt on the wound is an understatement; more like "I didn't know they were going to chop off all of my fingers just because I had a cut on one of them". While it might come down to finances, it doesn't necessarily mean that business has had a downturn. Loss of the owners health or life is often the most devastating issue; loss of key employees for is another reason. Personal reasons, health or otherwise, of owners or members of their family are sometimes not predictable or expected; but sometimes they are. Planning the time to sell may not be precise, but an exit plan is a good idea, even when all is going well and continues to go well for a long time. When it comes time to sell you can't find an easier process than working with K&K. If we are brokering the deal it's 1) non exclusive, so you can also work with others if you want; 2) cancelable whenever you want; no long term commitment that you can't get out of; 3) no cost; there are no expenses and disbursements you are responsible for; 4) brokerage commission is One Month RMR, which is generally 3%, about half what you would expect to pay any other broker in the alarm industry. K&K will broker your deal only if we are also representing you as attorney on the transaction. You will find K&K's transaction team the most experienced, efficient, talented and cost effective professional team in the industry. Here again the Retainer Agreement may be canceled by you at any time with hourly fees owed only up to the time you cancel [our clients don't cancel !!]. Give me a call when ready. Concierge Clients do get 10% off the legal fees. ***************************** STANDARD FORM AGREEMENTS: To order up to date Standard Form 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. *********************** WEBINARS: https://www.kirschenbaumesq.com/page/alarm-webinars *********************** ALARM ARTICLES: You can always read our Articles on our website at www.kirschenbaumesq.com/page/alarm-articles updated daily ******************** Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth *********************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* PODCASTS: https://podcasts.apple.com/us/podcast/ken-kirschenbaum-presents/id1794851477 ************************* Getting on our email list / 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. ************************** 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
