Smart Exit Planning Strategies for Niche Markets
Selling a Graphic Arts School
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a graphic arts school sale isn't as scary as it seems.
You won't find any magic formulas for selling a graphic arts school, especially while the market is struggling to overcome the perceptions created by a down economy.
The economy hasn't squashed the market for graphic arts schools. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Brokerage Benefits
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Family Business Sale Tips
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your graphic arts school stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your graphic arts school. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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