KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** Positioning your company for sale November 18 2022 *********************** Positioning your company for sale *********************** Ken, What direction could you offer on how to best position the company for a future sale? Jason ************************* Response ************************** There are many articles on the topic of how best to insure the highest price for your alarm accounts when you’re ready to sell. All K&K articles are archived on the K&K website at https://www.kirschenbaumesq.com/page/alarm-articles There is a search feature on the website so you can find articles of interest and on topic. Getting your alarm company [or accounts if not the entire company] for sale is not something you plan or work on once you decide to sell. You can’t begin to think about it too soon. In fact I’ve suggested that you give the exit strategy a good deal of thought the moment you get started in your business. If you operate with best practices there will be no last minute positioning or preparation to sell; you will be ready. Here are a few suggestions for best practices: * have your alarm monitoring accounts on lines you can move. That means your own dedicated lines. Companies using alarm.com can move the accounts with a flip of the switch, though the new central station will need the customer data to receive the accounts. * have all your subscribers sign proper contracts and make sure the execution process is correct * have all employees sign Employment Agreement * be sure you’ve made the best deal with your central station, not just price, but terms. Use the Rider for Central Station Dealer Agreement to focus on the most important issues in the cs dealer agreement * carry sufficient E&O insurance coverage * use quality equipment * do quality work * build your RMR, especially the monitoring RMR, but the repair service and inspection RMR too * keep proper records * don’t spend more than you make and more than you can afford; avoid debt * pay your taxes * don’t over extend your operation; good customer service is essential Here’s additional thought. Become a Concierge Client of K&K and have a close working relationship with us. We are here for you from start to finish. *********************** To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** 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 www.KirschenbaumEsq.com
