Exit Planning Advice By Market
Selling an Airbrushing Business
A good business is about more than dollars and sense. To make your airbrushing business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
Dire economic forecasts have forced many airbrushing business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
If your exit strategy involves selling an airbrushing business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Closing Strategies
Today's airbrushing business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. A limited amount of training and mentoring may seem inconsequential to you, but to a young airbrushing business owner, they can be critical launching points for their ownership journey.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your airbrushing business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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