Sell a Business for the Best Price
Selling a Photographic Inventories Business
With the economy limping along, many photographic inventories business owners are hesitant to put their businesses on the market. At Gaebler, we think it's a great time to sell a photographic inventories business. Here's why . . ..
It's a fact: Successful business sales take time.
If you're ready to move on, now is the right time to sell your photographic inventories business.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in photographic inventories business sales. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium 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.
Preparing Family Members
Many sellers embarked on their photographic inventories business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a photographic inventories business should allow opportunities for all family members to share their feelings and offer input about the sale process.
The Case for Confidentiality
Highly publicized photographic inventories business sales are risky photographic inventories businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Successful sales walk a fine line between total confidentiality and aggressive promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Share this article
Additional Resources for Entrepreneurs