Hi,

I have no experience selling a design firm, but I can tell you because I made the mistake myself--NEVER BUY OR SELL A COMPANY WITHOUT CONSULTING AN ATTORNEY!

I bought what appeared to be a thriving company from a person I had considered a good friend for 30 years. Got taken to the proverbial cleaners! Turned out some of the "accounts" were bogus, others had canceled their orders due to quality issues, and the books were phony as a three dollar bill. Even some of the equipment I purchased believing it to be bought and paid for still had payment due! We took out a second mortgage on our home, and got an additional bank loan just to buy the company, and lended up losing our home and our excellent credit rating because I tried to save money by handling the sale without an attorney.

Take my advice, if you're selling your business, get an attorney and have him draw up the agreement or if the seller offers one, to go over it with a fine tooth comb for you before you sign on the dotted line. It's worth the cost.

Best of luck,

Kathy