Advice on Niche Market Exit Planning
Selling a Television Advertising Business
Selling a television advertising business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
A business exit is always a trying experience. But when you need to sell your television advertising business in a depressed economy, the challenges can seem insurmountable.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Any television advertising business can be sold at any time -- you just need to know how to influence the right buyers.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a television advertising business. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their television advertising businesses.
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