Sell a Business for the Best Price
Selling a Photo Sculptures Business
We hear from a lot of business owners who are timid about listing their photo sculptures business. Despite the mood of the market, we think there are still opportunities to receive a good price for your photo sculptures business. Here's what you need to know . . .
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a photo sculptures business in today's market.
Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Signs You're in Over Your Head
The photo sculptures business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your photo sculptures business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your photo sculptures business during their initial inquires. Avoid releasing details about your photo sculptures business until you have established that they have the financial capacity to make a legitimate offer.
Advertising Your Sale
The best photo sculptures business sales incorporate comprehensive advertising plans. But if you think advertising your photo sculptures business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. There are multiple ways to promote a photo sculptures business sale, many of which require the assistance of a professional business broker.
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