Business Exit Planning
Selling a Motion Picture Location Services Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, motion picture location services businesses haven't been deterred. In fact, we think this economy is a ripe environment for a motion picture location services business sale.
In any economy, there is a right way and a wrong way to sell a business.
Most motion picture location services businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. You have invested yourself in making your motion picture location services business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your motion picture location services business until the prospect has been qualified as a serious buyer.
How to Work with Business Brokers
Business brokers are professional business sellers. It's typical for motion picture location services business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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