Personal and professional concerns surround the sale of an underwater and marine photographers business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your underwater and marine photographers business a success.
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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 underwater and marine photographers business on the market.
Professional appraisers can use three methods to determine the value ofan underwater and marine photographers business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Whether you know it or not, prospective buyers for your underwater and marine photographers business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. 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.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell an underwater and marine photographers business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your underwater and marine photographers business, you can avoid painful tax and legal complications both before and after closing.
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