You need to get a good price for your audiovisual production services business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your audiovisual production services business.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Preparing for What's Next
So you've decided to sell your audiovisual production services business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling an audiovisual production services business. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered audiovisual production services business sale.
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