Business Exit Planning
Selling a Multimedia Services Business
No one said selling your business in a depressed economy would be easy. But selling your multimedia services business doesn't have to be as daunting as it sounds.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a multimedia services business in today's market.
Too often multimedia services business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your multimedia services business's real assets. Your appraisal should occur before you put your business on the market. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. A pre-listing appraisal also gives you the opportunity to document the condition of your multimedia services business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Preparing for What's Next
The decision to sell your multimedia services business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the multimedia services business industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
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