So many buyers are looking to spend their life savings in a business and then complain that they have to pay a consultant, accountant, lawyer fees to help them with the business they are going to purchase. Many buyers who spend $100,000, $300,000 or even $1 million don’t want to pay very much in fees. Yes, it is prudent to watch what you spend but is the cheapest consultant the best?
There is a saying, if you want to get something done, give it to a busy person and you know that it will be looked after. Busy people have a successful business. If their business is successful, they probably charge more than another consultant. That is the supply and demand concept, the busier you are, the more you can raise your prices and the customers can then decide if they want to use your service or not.
Whenever you hear that a famous person has had a run in with the law, who do they use, the most expensive lawyer that they can find.
Why – they believe that they hired the very best and they do not want to take any chances.
Same goes for a business, you are going to spend your life savings on a business for sale and many investors want to pay the least amount of money for someone to help them buy a business. If things go right and there is no problem, then you were lucky and got away with having to spend a lot of money. The issue is never when things go right, the purpose of a consultant is to avoid when there is a potential for something to go wrong.