September 21, 2020  
 
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How to Sell to a Business

 

Selling a Casting Directors Business

A good business is about more than dollars and sense. To make your casting directors business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.

Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a casting directors business, capital restrictions are holding them back.
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If you're looking for a reason to wait to put your business on the market, you'll find it. Any casting directors business can be sold at any time -- you just need to know how to influence the right buyers.

Timing the Market

Now may be the best time to sell a casting directors business. Although the economy is generally struggling, low interest rates make casting directors businesses more attractive to entrepreneurs who want to get in the game. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.

Professional Appraisals

There is no substitute for a qualified appraisal in the sale of your casting directors business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.

Negotiation Exit Strategy

If the devil is in the details, the negotiation stage of a casting directors business sale is the devil's playground. Yet eventually many negotiations reach a stage where further discussion is pointless. It's not unusual for a casting directors business sale negotiation to reach an impasse over price or other concessions. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Entrepreneurial Exit Strategies

Marketing a Casting Directors Business

Pros and Cons of Using Business Brokers


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