Sell a Business for the Best Price
Selling a Photography Studios Business
We hear from a lot of business owners who are timid about listing their photography studios business. Despite the mood of the market, we think there are still opportunities to receive a good price for your photography studios business. Here's what you need to know . . .
Are most buyers timid about buying a photography studios business in today's economic environment? You bet.
If your exit strategy involves selling a photography studios business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Even if you hire a business broker to facilitate the sale of your photography studios business, it's likely that you will be the front line negotiator. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your photography studios business.
Preparing for What's Next
The decision to sell your photography studios business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your photography studios business attractive to buyers.
Signs You're in Over Your Head
Many photography studios business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other photography studios businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. 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. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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