NO FEE EBOOK: Alternatives to Bankruptcy for Realty Franchisees
The economy, competition and changes in buyer demand are just some of the reasons that your realty firm may be faced with financial hardships and crippling debt. For many financially distressed real estate brokers, thoughts of filing bankruptcy begin to creep into mind. Bankruptcy, however, can be cost prohibitive for an already cash-strapped small business (with a small business being defined as an entity where only one or two people make its strategic decisions such as the case in most real estate brokerage firms (Hunter, 2011)). Interestingly in a turn of irony, the very system created to help protect businesses (and individual consumers) facing “in the red” net fiscal losses as they either attempt to reorganize to become profitable or liquidate their assets to stop financial “bleeding”, is the very system that can add to the crushing financial liabilities that the small business is trying to manage. “Small business bankruptcy filings cost $50,000 to $100,000 in legal expenses and court filing fees; legal and fee expenses well in excess of $100,000 are common” as noted by DePamphilis (2012, p. 620). Bankruptcy can also create other problems beyond the cost to file for bankruptcy (Zuch, 2014).
As a result, realty firm owners may wonder, are there viable alternatives to a costly bankruptcy for a financially distressed, small company that seeks forbearance from its creditors as it attempts to either reorganize or liquidate its assets?
This ebook will present the case for small businesses, specifically realty brokerage franchisees, to seek cost-effective alternatives to attempt restructuring or liquidation as a first resort before filing bankruptcy. This ebook will first examine the reasons that realty firms should seek alternatives to bankruptcy. Next, this ebook will recommend some alternatives. Lastly, this ebook will examine a challenge that can impede the success of the alternatives.
Click the image below to access this NO FEE ebook using your Google account:
*The ebook will appear in a new window, so please make sure pop-ups are not blocked by your browser.
