Sell a Business for the Best Price
Selling a Photographic Equipment Service and Repair Business
Owning a photographic equipment service and repair business hasn't always been a bed of roses, but it's been worth the effort. Now the trick is to convince cautious buyers that your operation is worth the asking price.
It's a fact: Successful business sales take time.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a photographic equipment service and repair business.
Family Business Sale Tips
There is no easy way to sell a photographic equipment service and repair business, not even to a family member. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your photographic equipment service and repair business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your photographic equipment service and repair business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your photographic equipment service and repair business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the photographic equipment service and repair business to gain an objective sense of fair market value.
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