Advice on Niche Market Exit Planning
Selling a Talent Agency and Casting Service
Many business leaders say that now isn't the time to try to sell a talent agency and casting service. But in reality, now may be the perfect time to sell a talent agency and casting service.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Armed with a deliberate selling strategy, sellers of talent agencies and casting services are finding qualified buyers, even in today's tough market.
When Is the Right Time to Sell?
When is it the right time to sell your talent agency and casting service? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising talent agency and casting service sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your talent agency and casting service now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality talent agencies and casting services is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a talent agency and casting service that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Share this article
Additional Resources for Entrepreneurs