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  • question about selling my salon

    I have someone who is interested in buying my salon they want to sign a disclosure and have me get a contract ready. The disclosure is for looking at my books, ie. taxes and appt book, any suggestions on how to do this, I dont want to go to my attorney and have him do all this and I pay and then she doesn't buy. Any suggestions would be helpful. Like a do it yourself kinda thing?

  • #2
    Originally posted by molly97 View Post
    I have someone who is interested in buying my salon they want to sign a disclosure and have me get a contract ready. The disclosure is for looking at my books, ie. taxes and appt book, any suggestions on how to do this, I dont want to go to my attorney and have him do all this and I pay and then she doesn't buy. Any suggestions would be helpful. Like a do it yourself kinda thing?
    Ever heard the one about the person who acts as their own attorney has a fool for a client?
    You are talking about a transaction that will involve a substantial amount of money. It sounds like the prospective buyer has done their due diligence by having disclosure statements drawn up by an attorney to protect THEIR interests, you should have equal legal representation for YOUR interests. Otherwise I would not let someone rummage willy-nilly through my business records. You have to ensure that your interests are looked after, and that may mean having a disinterested third party make an evaluation of your business's financial health, to include the depth and longevity of your client list.

    As for going through all the expense of having an attorney look after your interests and then having the prospective buyer bail out, insist on an earnest money deposit. Selling your business is somewhat like selling your house. If they are sincere enough about buying your business, you should not have a problem getting a deposit. If they balk, they're probably not serious.

    Selling your business is something you should not do without legal representation to make sure your business and personal interests are protected.
    "With God's help, all things are possible!"
    Laura Lee Ray
    I am kats_melody on eGroomer. Follow my Twitter tweets - @ZOOMGROOM on Twitter.com

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    • #3
      I didn't say i wasn't going to get an attorney AT ALL, maybe I didn't explain right, I meant the disclosure part and they have not had one drawn up at all they want me to do it, I will def. have my attorney do the selling contract, I meant the disclosure only do my self, but thank you you did help because it was the deposit I was thinking about.

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