do I need broker advice to sell / should I have Kirschenbaum TM contract / Webinar notice / Holiday party notice September 25, 2018

KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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do I need broker advice to sell / should I have Kirschenbaum TM contract / Webinar notice / Holiday party notice
September 25, 2018

  Save the date: This years K&K annual party will be on December 14, 2018 from 6:30 to 9:30 PM at Pine Hollow Country Club, East Norwich, NY. We are going to need a head count this year and restrict the invitation to you and guest. invite with RSVP will be sent out soon. Hope to see you.
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Free Webinar:  September 27, 2018. 12 to 1 PM EST. Round table discussion on preparing your company for sale [we may get to buying considerations too]. Business brokers and consultants will join the discussion. Mitch Reitman, Robert Shoremount, Barry Epstein and Rory Russell are our Round Table Experts. Join us by reserving your spot:  Click here to register: https://attendee.gotowebinar.com/register/597273801145255682
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do I need broker advice to sell

Ken,
   I read your newsletter and use your contracts for a few years now, have been in business almost 30 years. I’m getting burned out even if I don’t have enough value/money to actually retire. So I’m thinking of searching for an “arrangement” or sale or something where it’s not my problem anymore, but I can still earn in this industry.
   My question to you – should I look at using you for such a deal or should I use a local broker who does work in the industry? I may not want to do a full sale if the right partnership can be put together so wonder if the local knowledge is favorable.
   I may also seek out the opportunities on my own, consummating with an attorney’s guidance for the legal protections.
   I welcome your perspective. If this is topical for your newsletter please redact my identification for obvious reasons.
   Thank you,
name withheld
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Response
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   First thing you should do is register for the free Webinar we are giving on September 27, 2018. Four industry brokers will be on the panel discussing the topics relevant to your questions. Register here: https://attendee.gotowebinar.com/register/597273801145255682
   Second, after 30 years in the alarm industry you should have enough to retire; your RMR should be significant enough to permit a cash out any time. You needed to start reading my articles sooner, 30 years ago. But it's not too late.
   There are a few opportunities to sell your monitoring accounts and stay in business providing repair service, inspection and new installations. I can steer you in the right direction if you can't find the right fit on The Alarm Exchange in the Merger and Acquisition category.
   You may not be positioned to sell just yet, and taking some time to beef up your RMR will be well worth the effort. You can look for a broker on The Alarm Exchange in the Broker category. While I do put companies together [and take a small commission] I don't offer the "full broker" experience or service [I also don't charge the commissions they typically command, and in most cases earn]. Without knowing more about your business it's hard for me to counsel you on whether you should engage me to "broker" a deal, or to represent you as counsel on a deal.
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should I have Kirschenbaum TM contract
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Ken
   Formerly I was in NYC working for GE Security and I have attended a few of your seminars. I moved to CA and opened my own alarm company. I am small and hire subcontractors as needed. I use a CA attorney contract but I wish I had just purchased yours. The old guard out here convinced me I needed a CA contract and no contract from NY would stand.
   I am looking for a subcontractor agreement that would protect me and my company in case someone falls off a ladder, etc etc. Do you have a subcontractor agreement for purchase?
Thank you.
Peter
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Response
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   I know of at least one attorney in LA who is a respected alarm industry expert. There's no way he provided you with a contract at the prices charged for the Standard Form Agreements, and there's no way he discouraged you from getting a contract from me. I am confident that more alarm companies in California use Kirschenbaum TM Standard Form Agreements than any other form from any other source. And if you're not from California, that same statement applies to you, no matter what state you are in. The Kirschenbaum TM agreements are customized state by state and updated constantly.
   I suspect you did make a mistake not getting and using the Standard Form Agreements, and unfortunately for you, that may become apparent at some point; either when you have to defend a loss or when you have to explain to a potential buyer where you got the contracts you use.
   The contract you are now looking for is the Subcontract. Be sure your subcontractors are licensed and fully insured; that includes Workers Compensation insurance.
   Final advice: don't provide the ladder and don't supervise the job. And make sure you get the end user to sign your contract before you start work.
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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
ken@kirschenbaumesq.com
516 747 6700
www.KirschenbaumEsq.com