You won't find any magic formulas for selling a photography school, especially while the market is struggling to overcome the perceptions created by a down economy.
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Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a photography school, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Signs You're in Over Your Head
The photography school-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Without brokerage, the risk of your sale going off-course is increased. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Finding Photography School Buyers
Buyers of photography schools run the gamut. Some are seasoned photography school veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. To cover all your bases, you'll need to conduct a broad buyer search process. That means listing your photography school in trade-specific directories as well as general business-for-sale databases. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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