Business Exit Planning
Selling a Motion Picture Film Servicing Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the motion picture film servicing business market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a motion picture film servicing business in the current economic environment.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
If your exit strategy involves selling a motion picture film servicing business in this environment, you need to apply the right combination of preparation, strategy and common sense.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the motion picture film servicing business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. It's completely normal for motion picture film servicing business sellers to be asked pointed questions during due diligence. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Pre-Sale Checklist
The upfront time you investment in the sale of your motion picture film servicing business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
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