Optimizing Business Exits
Selling a Record Promotion Business
Over the past few years, the record promotion business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a record promotion business during challenging economic times.
Selling a record promotion business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to record promotion businesses that exhibit strong financials and potential for future growth.
Preparing for What's Next
The decision to sell your record promotion business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Professional Appraisals
An experienced appraiser is part and parcel of a successful record promotion business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Following the appraisal, you may choose to delay your sale until you can increase the value of assets and revenue.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your record promotion business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your record promotion business.
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