Service companies can be a tricky type of business to sell. The number one question that we see asked is “when the owner leaves, are all of the accounts going to follow him/her out the door?” The idea that the “owner is the business” is the central problem to overcome when you seek to sell your company.

A successful strategy for dealing with this issue will pay significant dividends when the time comes to sell. Here are some mechanisms for you to consider:

• Build a Strong Team
• Continuity Plans
• Formal Procedures
• Contracts
• Non-Compete Agreements

What do we mean by service companies? Typically these refer to non-retail, non-manufacturing type businesses. Some examples include:

• Insurance Brokerages
• Accounting Firms
• Travel Agencies
• Medical Transcriptions
• Et cetera

Working on the above tasks – preferably in advance of your decision to sell – will go along way towards making your business more attractive to the market place.