Business Exits By Industry
Selling a Custom Photofinishing Business
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But custom photofinishing businesses haven't heard the news and are reporting steady action on the business-for-sale market.
With planning and patience, most custom photofinishing businesses can be sold for a fair price in the current business-for-sale marketplace.
Despite the conventional wisdom, we believe current economic conditions are right for selling a custom photofinishing business. We'll tell you what you need to know to achieve a successful sale outcome
Selling a Custom Photofinishing Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based custom photofinishing business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the custom photofinishing business. The sale of the business will likely result in new family dynamics. Subsequently, selling a custom photofinishing business has to include ample communication and shared decision-making.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the custom photofinishing business-for-sale market, where aggressive selling strategies are the norm. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
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