Exit Planning Advice By Market
Selling an Architectural Photographers Business
We hear from a lot of business owners who are timid about listing their architectural photographers business. Despite the mood of the market, we think there are still opportunities to receive a good price for your architectural photographers business. Here's what you need to know . . .
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.
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.
Negotiation 101
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.
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