Sell a Business for the Best Price
Selling a Photography Studio Rental Business
Is the economy still a little shaky for a business sale? Sure it is. Yet photography studio rental businesses haven't heard the news and are reporting steady action on the business-for-sale market.
You won't find any magic formulas for selling a photography studio rental business, especially while the market is struggling to overcome the perceptions created by a down economy.
The economy hasn't squashed the market for photography studio rental businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your photography studio rental business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your photography studio rental business.
Preparing for What's Next
The decision to sell your photography studio rental business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your photography studio rental business. 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.
Sale Documents
We run into a lot of photography studio rental business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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