It takes dedication to sell an architectural photographers business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
(article continues below)
At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your architectural photographers business on the market.
Preparing for What's Next
The decision to sell your architectural photographers business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Maximizing Sales Price
There are no simple ways to sell an architectural photographers business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their architectural photographers businesses.
As a business seller, you have to be at the top of your negotiating game. In an architectural photographers business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. But great negotiation begins with knowing yourself. What is the realistic price range for your architectural photographers business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Given your interest in exit planning and in architectural photographers businesses, you might find these additional resources to be of interest.
If starting an architectural photographers business is on your agenda, these helpul resources may be just what you've been looking for:
If you want information on how to sell to architectural photographers businesses, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.