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Selling a Contemporary Art Galleries and Dealers Business
Despite the pessimistic mood of many sellers, your contemporary art galleries and dealers business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa contemporary art galleries and dealers business.
The economy hasn't squashed the market for contemporary art galleries and dealers businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Working with Accountants
Accountants come into play at several stages of the sale process. Most contemporary art galleries and dealers business have significant tax consequences requiring the input of a qualified accountant. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your contemporary art galleries and dealers business until the prospect has been qualified as a serious buyer.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. 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. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for contemporary art galleries and dealers businesses than other buyers.
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