Selling an ASL Company: What are the key features?
When it comes to selling a language business, there is a layer of complexity that exceeds simply evaluating the dollars and cents/profits of the business. This is especially true when buying or selling an ASL (American Sign Language) business.
It has been an honor and privilege for us to work with ASL owners who take their responsibilities to heart. This includes responsibilities to the Deaf and Hard of Hearing communities, to the ASL interpreters and to the Clients who are requesting these services.
We have sold six ASL businesses in the past several years. Have been asked to highlight some of the different components both Buyer and Seller should be aware of.
ASL companies often serve Deaf and Hard-of-Hearing communities that rely on trusted relationships. Buyers who value this mission and are committed to maintaining high-quality interpreting services are critical to a successful transition. Sellers want to know their community (and their legacy) — will be in good hands.
Early on in the negotiations, the Buyer should present the Manager/Management team that will be taking over the ASL Business. This team will be interfacing with the interpreters, the community and Clients. The Seller often wants to vet this team. They would like to know who they are, were they an ASL interpreter, or CODA (Child of a Deaf Adult), do they have experience dealing with the ASL community. Do they have ‘Deaf Heart’. A strong, experienced ASL Manager(s) taking over is a big selling point for the Buyer.
An ASL company’s interpreters are its lifeblood. Retaining them through the transition can make or break the deal. It is important that the Buyer highlight their willingness to pay interpreters competitive rates in a timely fashion.
State regulations and interpreter credentialing requirements vary widely. Buyers need to understand these nuances before closing a deal, and sellers must present clean, organized compliance records to inspire buyer confidence.
Government contracts, educational institutions, and healthcare clients all have unique requirements. A well-documented revenue mix and long-term contracts can significantly increase Buyer interest and valuation.
MICHAEL KLINGER
LANGUAGE TRANSACTIONS
PHONE: 978-429-8014