Sell a Business for the Best Price
Selling a Press Photographers Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet press photographers businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The press photographers business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
You'll always have an excuse for not putting your business on the market. Any press photographers business can be sold at any time -- you just need to know how to influence the right buyers.
Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective 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.
When Is the Right Time to Sell?
When is it the right time to sell your press photographers business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling press photographers business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the press photographers business marketplace. The inventory of what we consider to be quality press photographers businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Share this article
Additional Resources for Entrepreneurs