Selling My Business
You’re probably very invested in your funeral firm – in fact – your identity is likely clearly wrapped up in the business. If you live and work in one of the smaller communities in America, you’re probably one of the most recognized people in town. How can you let go of something that is so much a part of who you are?
Yet, you just know it’s time to start thinking –and doing something – about the succession of your firm. Are you ready to retire? Could be. Or, maybe you’re simply tired of the day-to-day headaches of owning your own firm. You’d like to stay in funeral service, but don’t want to be responsible for those important decisions which have to be made every day; decisions which bear on the welfare of your employees, and your community as a whole.
We hear it all the time. “My neighbors and friends, my town, they depend on me. I can’t let them down. How can I take care of everyone’s needs, including those of my business, my family, and my community?”
Selling your funeral home is more than a rational decision – it’s also an emotional one. If yours is a longstanding family-owned firm, there’s a good chance that you’re getting a lot of pressure from your family and loved ones – everyone’s sharing their thoughts about selling, and many simply don’t want you to sell the firm (yet they don’t want to take part in its operation).
Caught Between a Rock and a Hard Place
You might be confused and looking for answers. And that’s what Carriage Services will give you. We’ll help you explore the options, and work alongside you to resolve the situation. If you decide to partner with Carriage Services, you’ve got to know that we won’t come in and change everything. In fact, it’s our commitment to you to preserve the legacy, the history, the heritage of your business. We know it’s your pride and joy.
Why is Carriage Your Best Option?
There are three simple reasons:
- We value the heritage and reputation that was built by an independent and work hard to preserve that, while enhancing the business with our cutting edge technologies and programs.
- We have a wide range of options for a prior owner to remain involved with the business and to stay involved in the community as an ambassador to the business.
- Our flexibility allows for someone to have as much or as little involvement that makes sense for both Carriage and the seller.
It’s All about Timing
The Carriage Services Corporate Development team will help you answer these questions:
- “Is it the right time for me to sell?”
- “Is this a broader family decision?”
- “Are the other shareholders or owners ready to sell?”
The process only starts when we all feel that the time for you to sell is right for you…not simply for us. We are not here to take advantage of anyone – that’s why we call this a partnering process. We are in this together.
Other Factors to Consider
Once we decide to move forward, you should know there is timing in terms of how long the process can take. A typical transaction, from the Letter of Intent to the closing of the sale ranges from 8 – 12 weeks. However, it can often be longer if there are negotiations, regulatory considerations, or other issues. For example, if there are advisors involved such as brokers, attorneys, or accountants, their involvement can add to the time it takes to prepare the Purchase Agreements and associated documents, as well as to handle the transfer of real estate or other assets, or obtain appropriate licensing.
There are cases when this timeline can be reduced by a couple weeks, but normally we’ll need at least 8 weeks to make the transition.
Ready to get started? Click here to learn how you can contact us discretely, to initiate the conversation.