Why sell your court reporting business?
By Adam Friend | Senior Vice President of Business Development
As a business owner, at some point it may make sense to consider a sale for a variety of reasons. Selling your business allows you to take what is likely your most valuable financial asset and diversify your wealth to reduce risk. While the most typical reason for a sale is a desire to transition into retirement, many business owners sell their businesses and continue to work for the acquiring company for many years beyond the sale.
Others find that they have grown to enjoy certain aspects of the business more than others, and desire to focus on what they find most interesting and fulfilling – whether that is taking depositions as a reporter, working closely with existing clients, developing new business relationships, or working with reporters and staff in an office environment.
As an independent business owner, there can be challenges related to HR, finance and administration. Some owners face required financial investments in staff, real estate, or technology that can be stressful or require a bank loan. Partnering with a larger organization can often represent the best of all worlds – continue to do what you love without the risk, aggravation and stress of doing it on your own.