After 25 years of running a successful hair salon, Connie wants to sell the business and buy a retirement house in Arizona. What is the first thing she should do to implement her plan?
A) begin networking to find buyers
B) hire a business lawyer
C) post the business on eBay
D) ask employees if they want to buy her out
E) research prices for similar businesses
Answer: B
Explanation: B) Selling a business is a complex process. Hiring an attorney—and other professional advisors such as an accountant—will ensure that Connie gets fair value for all the time, effort, and resources she's put into her salon.
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