Sell a Business for the Best Price
Selling a Performing Arts Business
Many business leaders say that now isn't the time to try to sell a performing arts business. At Gaebler, we think it's a great time to sell a performing arts business. Here's why . . ..
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to performing arts businesses that exhibit strong financials and potential for future growth.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your performing arts business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. Second, a good business broker is a master at confidentiality locating performing arts business sale prospects and guiding sellers through negotiations. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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