Sell a Business for the Best Price
Selling a Photo Restoration, Preservation, and Supplies Business
The sale of a photo restoration, preservation, and supplies business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
You won't find any magic formulas for selling a photo restoration, preservation, and supplies business, especially while the market is struggling to overcome the perceptions created by a down economy.
If your exit strategy involves selling a photo restoration, preservation, and supplies business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Laying the Groundwork
Effective photo restoration, preservation, and supplies business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a photo restoration, preservation, and supplies business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium photo restoration, preservation, and supplies business opportunity.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in photo restoration, preservation, and supplies business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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