You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an entertainment agencies and bureaus business.
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Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a entertainment agencies and bureaus business.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the entertainment agencies and bureaus 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. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your entertainment agencies and bureaus business on BizBuySell.com and other online business-for-sale sites.
Setting the Stage
Effective entertainment agencies and bureaus business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Financial statements, appraisals, operations manuals and other documents lay the foundation for your entertainment agencies and bureaus business sale, creating incentives for prospects to agree to a higher asking price.
During due diligence, the buyer will undoubtedly conduct his own appraisal of your entertainment agencies and bureaus business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your entertainment agencies and bureaus business.
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