Business Exit Planning
Selling a Motion Picture Consultants Business
Is the economy still a little shaky for a business sale? Sure it is. Yet motion picture consultants businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Business buyers face their own set of frustrations and complications. There are lots of buyers who want to own a motion picture consultants business, but have limited capital to get their foot in the door.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a motion picture consultants business sale. You just need to know your buyers and structure the deal accordingly.
Preparing Your Motion Picture Consultants Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful motion picture consultants business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your motion picture consultants business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Working with Accountants
Accountants come into play at several stages of the sale process. Before your motion picture consultants business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the motion picture consultants business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
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