Exit Planning Techniques By Market
Selling a Fine Art Artists Business
Planning and execution can dramatically influence the price you receive for your fine art artists business.
We're seeing a high volume of shadow inventory in the business-for-sale market.
More than a few fine art artists business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Advertising Your Sale
Successful fine art artists business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing fine art artists business sales while maintaining the confidentiality that is critical to your business.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a fine art artists business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Business Valuation
Multiple valuation methods exist for a fine art artists business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your fine art artists business based on the sales of similar businesses in your geographic area. All three methods have multiple variations and it's not uncommon for appraisers to use a combination of the three to determine the value of your business. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
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