Employment News
So, the economy has been very bad, but you have been running a business for 30 some years and you would like to sell your business. Under the circumstances, you might be better off doing an “earnout.” That means that instead of a lump sum payment now, you would work out a structured payment over a set period of time. The payment could be tied to gross sales or to gross profit or to net income. This would allow the new owner to hopefully earn a net income from the business and buy the business from you using that income. He would not have to put a huge amount of capital down to secure the new business and he would have time for the economy to improve. You would also be able to sell your business.
Read the full article here:
One Way to Close the Sale of a Business
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