Don’t overlook the lease — it’s one of the most instrumental elements of the sale process. The assignment or transfer of your lease should be handled with care because having issues with leases or landlords is a common deal-killer.

If you own a franchise, your franchisor will play a vital role in the process. In such cases, we recommend that you contact your franchisor as early as possible in the process to gain their cooperation.

When it comes to buying or selling a business, however, an escrow is more than simply an account where money is held until the details of the sale are complete. Escrow serves several essential functions in the sale of a business. The decision on whether or not to work with an escrow agent is an important consideration in a business sale.

The purpose of external advisors is to make you — the owner — and your entire management team look as credible as possible by anticipating issues and preparing disclosure in a professional manner. And who doesn’t want that?

For middle-market transactions, the buyer often brings a team of dozens of staff and advisors to conduct due diligence. As a result of the imbalance, you should aim to at least achieve negotiating parity by hiring the best advisors you can afford.