Business Exit Planning
Selling a Murals Artists Business
It's a misconception that no one is buying murals artists businesses these days. Savvy entrepreneurs see murals artists business opportunities as a path to short-term profits and long-term growth. Here's what you need to know to get a fair price for your company.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
If your exit strategy involves selling a murals artists business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Preparing Family Members
Many sellers embarked on their murals artists business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the murals artists business. The sale of the business will likely result in new family dynamics. Subsequently, selling a murals artists business often begins with a family conversation and a mutual decision to move on the next stage of life.
It's becoming more difficult to sell a murals artists business without considering seller concessions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a murals artists business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your murals artists business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
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