Sell a Business for the Best Price
Selling a Photofinishing Commercial and Professional Business
Maybe you're counting on your photofinishing commercial and professional business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
The process of selling a photofinishing commercial and professional business can be one of the most stressful experiences of your entrepreneurial career.
Too often photofinishing commercial and professional business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Sale Costs
In a photofinishing commercial and professional business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Pre-Sale Checklist
The pre-sale checklist for a photofinishing commercial and professional business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your photofinishing commercial and professional business. 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 photofinishing commercial and professional business owner, they can be critical launching points for their ownership journey.
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