Leaderboard

Congratulations on planning ahead for your retirement. If successful you'll have to adjust to being the boss of nothing and it won't take long for you to really enjoy it! We sold in 2016 for 1x - paid 1/2 at closing (12/30) and 1/2 the next year. The price was firm - no adjustments. You might want to check with business brokers who specialize in TPA transactions for a reality check on your multiple. Tax-planning is really important in structuring the terms so you get to keep as much of the proceeds as possible - you've sacrificed 30 years for it! Any income or expenses after the closing date belonged to the buyer. We did not try and game it by trying to accelerate collections or delay payables. Aside from getting paid, our biggest concern was the continued employment of our dedicated team and 9 years out everyone's still there. I'd cast your net wider than the single shop you know. We talked to about 7 shops - narrowed it down to 4 friendly competitors and then picked the best fit. Our terms weren't negotiable. If you want to discuss in depth, just PM me.