Advice on Niche Market Exit Planning
Selling a Theatrical Stages Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the theatrical stages 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 theatrical stages business whem market conditions threaten a successful business sale.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your theatrical stages business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Selling a Theatrical Stages Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based theatrical stages business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. 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?
Most business owners know when it's time to exit their company. There are a lot of naysayers out there advising theatrical stages business sellers (or would-be sellers) to take a wait and see approach. At Gaebler, we have a much more optimistic view of your chances in the theatrical stages business-for-sale market. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
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