Sell a Business for the Best Price
Selling a Portrait Photographers Business
Many business leaders say that now isn't the time to try to sell a portrait photographers business. At Gaebler, we think it's a great time to sell a portrait photographers business. Here's why . . ..
It's a fact: Successful business sales take time.
If your exit strategy involves selling a portrait photographers business now, business sellers may need to apply a combination of incentives and techniques.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your portrait photographers business until the prospect has been qualified as a serious buyer.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the portrait photographers business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your portrait photographers business on BizBuySell.com and other online business-for-sale sites.
What About Market Conditions?
No one plans to sell a portrait photographers business in a down economy. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. But when the economy fully rebounds, a shadow inventory of portrait photographers businesses will flood the market and drive prices down even further. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a portrait photographers business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Share this article
Additional Resources for Entrepreneurs