Sell a Business for the Best Price
Selling a Photofinishing Retail Business
Planning and execution can dramatically influence the price you receive for your photofinishing retail business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a photofinishing retail business.
Moving On
The decision to sell your photofinishing retail business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. 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.
Selling a Photofinishing Retail Business to an Employee
Although it may seem easier to sell your photofinishing retail business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based photofinishing retail business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a photofinishing retail business without outside assistance. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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