August 11, 2020  
 
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Selling a Company

 

Selling a Photography School

Nervous about selling your photography school? You shouldn't be. Our tips will help you get the highest price for your photography school, regardless of what's happening with the economy.

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

Maintaining Objectivity

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.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in photography schools, you might find these additional resources to be of interest.

Family Business Exit Plans

Marketing a Photography School

Selling Part of a Business


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