Sell a Business Tips
Selling a Sports Photographers Business
Despite the pessimistic mood of many sellers, your sports photographers business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
It's a fact: Successful business sales take time.
Too often sports photographers business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Average Preparation Time
There are no effective shortcuts for selling a sports photographers business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey sports photographers business operation. Since all of this takes time and effort, a sports photographers business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
When to End Negotiations
The negotiation stage of a sports photographers business can seem never-ending. Yet eventually many negotiations reach a stage where further discussion is pointless. It's not unusual for a sports photographers business sale negotiation to reach an impasse over price or other concessions. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Leveraging Industry Connections
There are a lot of different places to look for sports photographers business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
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