Business Exit Planning
Selling a Musical Shows Business
You've learned a lot during your tenure as a musical shows business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
When the economy recovers, we expect to see a sudden influx of musical shows businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Undaunted by economic conditions, many musical shows business sellers are achieving their sale goals through deliberate sale strategies.
Sweetening the Deal
Today's musical shows business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young musical shows business owner, they can be critical launching points for their ownership journey.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your musical shows business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
Maximizing Sales Price
There are no simple ways to sell a musical shows business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their musical shows businesses.
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