Exit Planning Techniques By Market
Selling a Film Festival
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a film festival sale isn't as scary as it seems.
Are most buyers timid about buying a film festival in today's economic environment? You bet.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a film festival, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your film festival now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. 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.
Handling Unexpected Outcomes
When you made the decision to sell your film festival, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your film festival. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your film festival's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your film festival.
Share this article
Additional Resources for Entrepreneurs