December 4, 2020  
 
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Selling a Company

 

Selling a Stock Photographers Business

You've learned a lot during your tenure as a stock photographers business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.

Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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You'll always have an excuse for not putting your business on the market. Selling a stock photographers business isn't easy, but we believe sellers can achieve their goals in any economic environment.

Business Assets

It's incumbent on buyers to commission their own appraisal of your stock photographers business's physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

Tips for Working with A Business Broker

Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the stock photographers business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.

The Emotions of a Business Sale

There is no easy way to say goodbye to your business. You probably have good reasons for selling your stock photographers business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.

More Exit Planning Articles

Given your interest in exit planning and in stock photographers businesses, you might find these additional resources to be of interest.

Pre-Exit Employee Incentive Programs

Marketing a Stock Photographers Business

Why Most Businesses Do Not Have Exit Plans


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