Niche Exit Planning Strategies
Selling a Dance Company
Is the economy still a little shaky for a business sale? Sure it is. Yet dance companies haven't heard the news and are reporting steady action on the business-for-sale market.
In a down economy, many dance company sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of dance companies that are actually for sale.
However, serious buyers also understand the value of a good dance company. So for dance company sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your dance company. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Following the appraisal, you may choose to delay your sale until you can increase the value of assets and revenue.
Setting the Stage
Effective dance company preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a dance company to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium dance company opportunity.
Selling to a Family Member
There is no easy way to sell a dance company, not even to a family member. 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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