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Selling a Concert Bureaus Business
Many business leaders say that now isn't the time to try to sell a concert bureaus business. At Gaebler, we think it's a great time to sell a concert bureaus business. Here's why . . ..
Dire economic forecasts have forced many concert bureaus business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Understanding Market Timing
Timing is everything when it comes to selling a concert bureaus business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on concert bureaus businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Handling Unexpected Outcomes
When you made the decision to sell your concert bureaus business, you had a specific set of outcomes in mind. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Team-Based Negotiation Strategies
It's not unusual for concert bureaus business sellers to feel overwhelmed when they negotiate the sale of their business. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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