Niche Market Exit Planning Tips
Selling a Ballet Company
Planning and execution can dramatically influence the price you receive for your ballet company.
The process of selling a ballet company can be one of the most stressful experiences of your entrepreneurial career.
However, serious buyers also understand the value of a good ballet company. So for ballet company sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
Sale Costs
In a ballet company sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a ballet company sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your ballet company stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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