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Comment on when to start exit plan
April 19, 2019
Comment on when to start exit plan from April 15, 2019 article
            Can I add a couple of comments to what you have already said below to your subscriber who wants to prepare for an exit?
1.      I agree with Ken on the idea of getting a broker or intermediary to help him or her to sell. For several reasons it just makes no sense to try to sell your business on your own. However I would go further and suggest your subscriber find a broker who has solid security industry experience rather than a general business broker. There are several good ones out there.
2.      Secondly try to plan your exit at a time when your business is in an uptick and performing well. This means being able to show at least 2 years of either good growth and/ or strong earnings.
3.      In addition it pays if you can to try to sell your business in good general economic times.  Buyers are more upbeat and usually have access to more money.
4.      Also get the administrative part of your business in order before you sell – not while you are in the process of selling. Make sure all your monitored accounts are on signed proper contracts like the ones that Kens provides. Get your monitored accounts onto lines that can be call forwarded easily. Make sure you have at least 2 years of financials readily available.
5.      Finally get a valuation done on your business before you enter the selling process so that you have an idea as to what your business is worth- only be careful as to who you get to do the valuation because some Chartered Business Valuators do not always get the value of recurring monthly revenue right.
            I hope this helps.
Victor Harding
Harding Security Services Inc
            Good advice.  It’s usually a long journey from starting your business to a successful exit.  Unfortunately an unsuccessful exit is not what we hope for, not what we plan for and something to be avoided.  It’s rare for an alarm company to bust, but not so uncommon for an alarm company to operate in such a way so as to reduce its value.  There are lots of ways to screw up your alarm business.  Screw up number one is failing to use updated Standard Form Agreements.  Don’t believe me?  You will find out the hard way.
            Here’s a great idea to enhance the value of your business.  Become a Concierge Client and get consistent good advice when you need it.  Call our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304.  See Concierge Program details here:

You can check out the program and sign up here: or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304.

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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301