Business Exit Planning
Selling a Movie Cameras Business
You've learned a lot during your tenure as a movie cameras business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Despite the conventional wisdom, we believe current economic conditions are right for selling a movie cameras business. We'll tell you what you need to know to achieve a successful sale outcome
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your movie cameras business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your movie cameras business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Sale Preparation Timeframes
There are no effective shortcuts for selling a movie cameras business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a movie cameras business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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